Bank of America analyst Jason Kupferberg upgraded TaskUs Inc. to Buy from Neutral with an unchanged $71 price target, implying an upside of 49 percent.
Kupferberg noted that the stock had lagged S&P 500 performance by 5,000 basis points and comps by 3,800 basis points since touching highs on September 23 following its June IPO, driven by a broader market rotation out of growth names, rather than company-specific factors.
However, the company’s “solid” post-IPO execution should continue, the analyst told.
TaskUs provides outsourced digital services and next-generation customer experience to technology companies.
By Anusuya Lahiri
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