UPDATE: Piper Jaffray Initiates Coverage on Genpact Limited with Overweight Rating, $18 PT on Positive Long-Term Growth Outlook

In a report published Thursday, Piper Jaffray analyst George K. Tong initiated coverage on Genpact Limited G with an Overweight rating and $18.00 price target. In the report, Piper Jaffray noted, “Genpact, a leading global provider of diversified outsourced services, is undergoing a transformative period as it paves way for sustainable long-term above-industry average growth. We think the shares' dislocation due to near-term investments and a focus on converting larger transactions with longer decision cycles creates an attractive investment opportunity. We initiate with an Overweight rating and an $18 price target.” Genpact Limited closed on Wednesday at $15.30.