Friday August 31, 10:30 PM
NaviSite initiated with “outperform” - update
NEW YORK, August 31 (newratings.com) – Analysts at RBC Capital Markets initiate coverage of NaviSite Inc (NASDAQ: NAVI - news) (ticker: NAVI) with
an "outperform" rating. The target price is set to $10.
In a research note published this morning, the analysts mention that rising demand for software services, IT outsourcing, web-based applications, and digital content management and delivery is expected to fuel the company's growth going ahead. NaviSite has attractive operating leverage, since a large portion of its costs is fixed, enabling the company to expand its customer base and service offerings without a significant increase in costs, the analysts say.
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