Genpact price target raised to $42 from $38 at BMO Capital

BMO Capital analyst Keith Bachman raised the firm’s price target on Genpact (G) to $42 from $38 but keeps a Market Perform rating on the shares after its Q2 earnings beat. The company reported a solid quarter, with upside to consensus across the board, and is raising FY24 guidance at a time when many investors expected downside risk to FY24 estimates, the analyst tells investors in a research note. While considering a more constructive stance on Genpact however, the firm is leaning toward more “diversified players” such as IBM (IBM) or Accenture (ACN) that have greater leverage to broader market recovery and AI, BMO adds.