Citi ups ExlService target, opens ‘positive catalyst watch’

Citi raised the firm’s price target on ExlService to $38 from $37 and keeps a Buy rating on the shares. The analyst also opened a “30-day positive catalyst watch” on the shares. The firm expects the company to beat Q2 top-line expectations and raise its 2024 outlook ranges. ExlService has demonstrated “solid execution and a beat-and-raise track record” over recent quarters and this trend should continue, the analyst tells investors in a research note.