UPDATE: J.P. Morgan Raises Price Target on Genpact to $19

According to J.P. Morgan, Genpact G price target is raised to $19. J.P. Morgan said that 3Q11 results came in ahead of expectations and G expectedly increased its revenue guidance. “We retain our Neutral rating on G given a relatively defensive nature of its growth rate, but potential upside to be limited by premium valuation (G trades at 21x our CY12 estimates vs. peers at 16x).” Genpact closed on Friday at $17.04.