UPDATE: Morgan Stanley Reiterates on Genpact Limited Following Mixed Quarter Results

In a report published Friday, Morgan Stanley analyst Vipin Khare reiterated an Overweight rating on

, but removed the $21.00 price target. In the report, Morgan Stanley noted, “Genpact reported a mixed set of Dec13 quarter results. Revenues and adj net income were ahead of our expectations, but adj EBIT was marginally lower than our estimate. However, the company gave very disappointing 2014e guidance.” Genpact Limited closed on Thursday at $17.04.