Cantor Fitzgerald analyst Joseph Foresi maintained a Buy rating on Genpact Limited (G) today and set a price target of $36. The company’s shares closed yesterday at $27.40, close to its 52-week low of $26.46.
Foresi noted:
“. We maintain our Overweight rating and our 12-month PT of $36 on shares of G. Quarterly top-line results came in below expectations, but EPS beat estimates. GE (Not Covered) revenues saw growth as management stated it is starting to see GE stabilize. The company maintained revenue guidance for 2018 due to recent acquisitions. More importantly there is optimism around 2019 as global client growth is expected to improve and GE accelerate. We remain optimistic about the company due to the healthy demand backdrop for BPO and the increased client activity brought about by digital engagements.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 17.5% and a 77.4% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Genpact Limited with a $35.20 average price target, a 28.5% upside from current levels. In a report issued on October 31, Robert W. Baird also maintained a Buy rating on the stock with a $36 price target.
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Genpact Limited’s market cap is currently $5.2B and has a P/E ratio of 19.86. The company has a Price to Book ratio of 4.01.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock.
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Genpact Ltd. engages in the business process management, outsourcing, shared services, and information outsourcing. It focuses on designing and running intelligent operations and providing digital-led solutions. The company was founded by Pramod Bhasin in 1997 and is headquartered in Hamilton, Bermuda.
