Globant price target raised to $220 from $210 at Scotiabank

Scotiabank analyst Divya Goyal raised the firm’s price target on Globant (GLOB) to $220 from $210 and keeps a Sector Perform rating on the shares. The company’s recent quarterly results came in as expected on both the revenue and profitability front despite two recent acquisitions and currency headwinds across Latin America, the analyst tells investors. Overall, while the firm believes the company continues to be one of the key global DX players, Scotiabank believes the company’s current valuation already account for this upside, leaving limited room for stock appreciation as compared to its closest peer.