It seems as though Mr. Birer shares your optimism.
Wednesday November 3, 8:42 am Eastern Time
Company Press Release
Robertson Stephens Upgrades SYNT to a Buy Rating
SAN FRANCISCO--(BUSINESS WIRE)--Nov. 3, 1999--Robertson Stephens Senior eServices Analyst Steven Birer yesterday upgraded Syntel Inc. (NASDAQ:SYNT - news) to a Buy rating from a Long-Term-Attractive. Syntel is a worldwide provider of professional information technology staffing and outsourcing services to Fortune 1000 companies and government organizations.
``We are raising our rating on Syntel, after the company reported third quarter 1999 results this morning,' said Birer. ``Year 2000 revenues accounted for $700,000 in the period, versus $4.5 million in the prior quarter. Y2K-related revenues are expected to drop to $400,000 in the fourth quarter and become negligible in 2000.'
``Syntel has turned the quarter in our opinion. The company has 99 percent visibility on our fourth quarter 1999 revenue estimate of $43.5 million, and over 90 percent visibility on our first quarter 2000 estimate of $45.5 million,' said Birer. ``Syntel is well positioned to leverage its current infrastructure costs, and we expect to see improving operating margins as a result in 2000. It is our belief that if the company executes on its business plan, investors could easily see a double or triple in the company's stock price over the next year.'
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