Price target: $2250 (from $2150)
Rating: Buy
"Market jitters have the stock down on 4Q18 guidance, but we would be buyers," said analyst Youssef Squali at Suntrust Robinson Humphrey.
"We believe the 4Q18 revenue guide (which is shy of consensus) is on the conservative side, as the company is greatly positioned to benefit from a robust holiday season and 4Q tailwinds in India."
"We reiterate our Buy rating/raise our PT to $2,250 to reflect 1) solid top line and impressive out-performance in operational efficiency/profitability, and 2) the shifting of our price target to year-end 2019 from 2018," Squali added.