Genpact Ltd. (G) PT Lowered to $38 at BMO Capital

BMO Capital analyst Keith Bachman lowered the price target on Genpact Ltd. (NYSE: G) to $38.00 (from $39.00) while maintaining a Market Perform rating.

The analyst commented, "Genpact delivered strong upside to March quarter revenues and carried through the beat into its FY24 revenue guide. Hence, we think that company-specific execution on larger deals drove the upside more so than any macroeconomic improvement.
We think Genpact is appropriately taking a cautious approach to CY24 guidance in a still weak services environment, and we believe there is more work to be done on Genpact’s evolving go-to- market strategy. Net, we are taking our target price down to $38, and we remain Market Perform."

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