Globant price target raised to $251 from $240 at Citi

Citi raised the firm’s price target on Globant to $251 from $240 and keeps a Buy rating on the shares. The firm is expecting a “relatively steady quarter” from the digital services pure-plays with “de-risked outlooks” combined with a relatively unchanged demand environment. Citi’s preference is toward those that are set up for double-digit organic growth exit rates for 2024 and accelerated growth potential in 2025. Globant (GLOB) and Grid Dynamics (GDYN) remain among its top overall IT services ideas into the Q3 prints.