WNS Holdings downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded WNS Holdings to Neutral from Overweight with an unchanged price target of $60. The company’s fiscal Q1 results were inline but included a “surprisingly steep decline” in travel trends, which coupled with the upcoming healthcare client transition in Q2 “creates a trickier path” to achieving its fiscal 2025 guidance, the analyst tells investors in a research note. The firm prefers other names that offer higher upside over the next few quarters and moved its estimates to the low end of guidance.