ExlService price target lowered to $34 from $37 at TD Cowen

TD Cowen lowered the firm’s price target on ExlService to $34 from $37 and keeps an Outperform rating on the shares. The firm said the company continues to execute well and capitalize on a largely healthy BPM demand environment. Pressure persists in discretionary demand/customer marketing analytics but the company is confident in maintaining double-digit organic growth in FY24 and beyond.