Globant price target raised to $220 from $215 at Citi

Citi raised the firm’s price target on Globant to $220 from $215 and keeps a Buy rating on the shares. The analyst continues to have a cautious view toward the enterprise IT spending environment with the IT Services demand environment remaining largely unchanged since the start of the year. Pressures on discretionary spending and delayed decision-making remain with some offset coming from good demand for larger-scale digital core transformations, the analyst tells investors in a research note.