UPDATE: J.P. Morgan Raises PT on Genpact Limited on Updated Estimates
In a report published Monday, J.P. Morgan analyst Tien-tsin Huang reiterated an Overweight rating on Genpact Limited (NYSE: G), and slightly raised the price target from $19.00 to $20.00.
In the report, Huang noted, “In this report, we update our estimates for various items expected to impact near term growth. First, recent appreciation in USD vs. other currencies will hurt reported growth rates this year, assuming current rates hold. We also estimate C1Q13 had 3% fewer billing days than last year's, which should create growth headwinds in C1Q and tailwinds in C2Q for IT services firms. We believe the trend should be incrementally positive for stocks that issue quarterly guidance (i.e. where Street estimates likely reflect 1Q headwinds, but not 2Q tailwinds). Finally, H1b visa's annual cap was hit within the first week this year, but we do not view the news as an indicator of demand. Overall, these trends (FX) will hurt WNS the most, while potential solid ramp in 2Q revenue growth will be positive for CTSH and VRTU.”
Genpact Limited closed on Friday at $18.16.
Latest Ratings for G
|Aug 2016||Morgan Stanley||Downgrades||Equal-Weight||Underweight|
|Aug 2016||BMO Capital||Downgrades||Outperform||Market Perform|
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