UPDATE: Bank of America Raises Genpact Limited's PO

According to a research report published this morning, Bank of America has increased Genpact Limited's

PO from $18 to $19. In the report, Bank of America commented, "Demand drivers within BFSI remain intact for Gas its offerings are pre-dominantly annuity based and on improving traction in retail / mortgage banking. Deal pipeline and decision cycles also remain stable. We forecast CY12 rev growth at 18.3%yoy, near top end of co guidance. Outsourcing advisor, TPI forecasts 5-7% growth in CY12 contract value for BPO industry which is likely to benefit G while its strong position in F&A market and improving client penetration capabilities through its smart decision services of risk, analytics, IP to drive mkt share gains." Bank of America maintains its Buy rating on Genpact Limited, which closed yesterday at $16.51.