Globant price target raised to $248 from $237 at JPMorgan

JPMorgan raised the firm’s price target on Globant (GLOB) to $248 from $237 and keeps an Overweight rating on the shares as part of a Q3 earnings preview. The firm sees a neutral risk/reward going into the digital IT services results given no clear improvement or deterioration in short-cycle IT spending. As such, it prefers to position around valuation and relative growth expectations heading into 2025.