Wedbush Starts Globant S.A. (GLOB) at Outperform
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Wedbush initiates coverage on Globant S.A. (NYSE: GLOB) with a Outperform rating and a price target of $48.00.
Analyst Moshe Katri commented, "We are initiating coverage on Globant with an OUTPERFORM and $48 price target, reflecting the company's focus on the fastest-growing segment in IT Services (SMAC), with the incremental benefits associated with project execution out of LatAM. We believe Globant is well-positioned to generate 20-25% top-line growth during the next 2-3 years. Globant's stock currently trades at 26.1X our projected FY17E adj. EPS."
Shares of Globant S.A. closed at $39.41 yesterday.
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