Genpact price target lowered to $52 from $56 at Citi

Citi analyst Ashwin Shirvaikar lowered the firm’s price target on Genpact to $52 from $56 and keeps a Buy rating on the shares. Genpact beat Q3 expectations and slightly increased its 2022 outlook but its implied Q4 outlook missed expectations and points to a relatively steep growth deceleration, Shirvaikar tells investors in a research note. The demand environment and pipeline remain healthy for Genpact but it has begun to see larger deals getting broken up into smaller deals with a focus on faster payback and an elongated sales cycles for larger deals, says the analyst. However, Shirvaikar would buy the stock, especially on any weakness, and views current valuations as attractive.