Genpact price target raised to $40 from $35 at Jefferies

Jefferies raised the firm’s price target on Genpact to $40 from $35 and keeps a Hold rating on the shares. The firm says it is starting to get more positive on the IT services industry with demand having potentially bottomed, and poised to improve in 2025. Valuations in the group have come off the bottom, adds the analyst, who sees the potential for a continued re-rating higher as demand returns.