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Downgrade Alert for Syntel (SYNT)

By James Quinn

Syntel (NASDAQ:SYNT) was downgraded from Outperform to Market Perform at Barrington today. The stock closed yesterday at $42.82 on volume of 570,000 shares, above average daily volume of 232,000.

Syntel, Inc. delivers custom outsourcing solutions through a broad spectrum of information technology and information technology-enabled services. The Company's services support entire systems and process lifecycles for clients in the Financial Services, Retail, Healthcare and Automotive industries. With over 3300 employees worldwide, Syntel is SEI/CMM level 5 and ISO 9001:2000 certified.

In the past 52 weeks, shares of Syntel have traded between a low of $40.68 and a high of $50.92 and closed yesterday at $42.82, which is 5% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

Syntel (NASDAQ:SYNT) has potential upside of 18.4% based on a current price of $42.82 and analysts' consensus price target of $50.71. The stock should find initial resistance at its 200-day moving average (MA) of $45.62 and further resistance at its 50-day MA of $46.33.

SmarTrend is tracking the current trend status for Syntel and will alert subscribers who have SYNT in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades Syntel

Ticker(s): SYNT