Wells Fargo analyst Jeff Cantwell downgraded TaskUs to Underweight from Equal Weight with a price target of $17, down from $18. The analyst thinks 2023 will be more challenging fundamentally for his coverage versus 2022. Though he expects a challenging market environment in the first half of the year, Cantwell thinks slowing inflation plus a Fed pivot will drive "risk-on" sentiment in the space by the second half.
Published first on TheFly
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