ExlService price target lowered to $162 from $175 at Citi

Citi analyst Ashwin Shirvaikar lowered the firm’s price target on ExlService to $162 from $175 and keeps a Neutral rating on the shares. The company reported a “beat-and-raise quarter, but the positive operating outcome did not translate to a positive share catalyst, the analyst tells investors in a research note. The firm says sales beat magnitude was lower than recent history and the “raise” implies slowing growth.