Jefferies upgraded Genpact (G) to Buy from Hold with a price target of $55, up from $44, ahead of the Q4 report. The firm has greater conviction in the company’s revenue growth accelerating to high-single-digits. Continued execution and fears around artificial intelliotence disruption further moderating should aid the stock’s multiple expansion, the analyst tells investors in a research note. Jefferies believes this makes Genpact’s “below peer group valuation” attractive.
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