UPDATE: Morgan Stanley Reiterates Equal-Weight Rating, Removes PT on Genpact Limited Following Solid 1Q14 Results

In a report published Tuesday, Morgan Stanley analyst Vipin Khare reiterated an Equal-Weight rating on

, but removed the $18.00 price target. In the report, Morgan Stanley noted, “Genpact reported stronger-than-expected revenues and margins in 1Q. The GE account declined less than guided (-3%yoy). However, net income was in line with expectations. Overall, lack of guidance revisions and EPS upside leaves limited near-term triggers, in our view. Maintain EW.” Genpact Limited closed on Monday at $16.95.