Magic Software Enterprises Rating Lowered to 'Buy' at StockNews.com

Magic Software Enterprises Ltd. MGIC, a global provider of application development, business process integration, and IT outsourcing services, has experienced a revision in its stock rating. Analysts at Stockloor.com have adjusted the company's rating from 'strong-buy' to 'buy'. This change in rating was reflected in a research report published on Thursday.

Company Profile

Magic Software Enterprises Ltd., headquartered in Or Yehuda, Israel, operates on an international scale, providing a suite of software services. These services span across proprietary application development, process integration, vertical software solutions, as well as IT outsourcing services. The company has established a significant presence both in Israel and abroad.

Stock Rating Downgrade

The recent downgrade, shifting from a 'strong-buy' to a 'buy', indicates that while analysts still endorse the stock as a positive investment, they have tempered their optimism about its immediate strong growth potential. MGIC has thus landed at a slightly more conservative investment rating, albeit still within the favorable spectrum.

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