Citi lowered the firm’s price target on Globant to $190 from $205 and keeps a Buy rating on the shares. The analyst would stay cautious on enterprise spending through 2023. However, while digital services growth has slowed due to macro weakness, it remains materially higher than industry growth and digital services continue to gain wallet share, the analyst tells investors in a research note. The firm opened "positive catalyst watches" on Grid Dynamics (GDYN) and Globant (GLOB). It looks for Globant’s earnings on May 18 to be a positive event.
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