TaskUs price target lowered to $18 from $23 at BTIG

BTIG lowered the firm’s price target on TaskUs to $18 from $23 but keeps a Buy rating on the shares. The analyst notes the company’s Q3 earnings beat and raised guidance while citing AI and LatAm as the two areas of opportunity for TaskUs to grow into over the long term to get growth back in acceleration mode. BTIG adds however that its reduced price target reflects the current macro environment, even though it remains positive on the company’s long-term return to growth and its ability to outpace the industry as more companies turn to emerging tech.