Citi opens ‘negative catalyst watch’ on Genpact into 2024 outlook

Citi raised the firm’s price target on Genpact to $36 from $35 and keeps a Neutral rating on the shares. The analyst also opened a “30-day negative catalyst watch” on the shares. The firm expects Genpact to provide an initial 2024 outlook that is both well below its prior medium-term targets as well as below consensus expectations. The stock could react negatively to this setup and remain rangebound, the analyst tells investors in a research note.