In a report released today, Joseph Foresi from Cantor Fitzgerald maintained a Buy rating on Genpact Limited (NYSE: G), with a price target of $36. The company’s shares closed yesterday at $31.23.
Foresi observed:
“. 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 raised revenue guidance for 2018 due to recent acquisitions. 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 19.2% and a 85.5% 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 $36.50 average price target, which is a 16.9% upside from current levels. In a report released today, Cowen & Co. also reiterated a Buy rating on the stock with a $37 price target.
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Genpact Limited’s market cap is currently $5.95B and has a P/E ratio of 22.15. The company has a Price to Book ratio of 4.36.
Based on the recent corporate insider activity of 45 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.
