Piper Jaffray analyst George Tong reiterated an Overweight rating and boosted his price target on Genpact (NYSE: G) to $28.00 (from $27.00), saying they remain enthusiastic following a beat and raise quarter.

Tong commented, "We see continued evidence of favorable traction by Genpact in securing larger, more strategic outsourcing transactions driving an accelerating revenue and earnings growth outlook. We believe Global Client revenue will accelerate to mid-teens growth while operating margins will expand by ~50 bps by the end of 2016, yielding 20%+ EPS expansion. With current valuations at 15x 2016 P/ E, we find the upside potential attractive. We raise our estimates and increase our price target from $27 to $28."

The firm bumped FY 2015 EPS from $1.18 to $1.20 and FY 2016 EPS from $1.43 to $1.46.

For an analyst ratings summary and ratings history on Genpact Ltd. click here. For more ratings news on Genpact Ltd. click here.

Shares of Genpact Ltd. closed at $22.25 yesterday.