Globant price target raised to $210 from $200 at Scotiabank

Scotiabank raised the firm’s price target on Globant to $210 from $200 and keeps a Sector Perform rating on the shares. Despite a tough macro environment for global digital engineering players, the company continues to report double-digit growth due to its unique business model, the analyst tells investors. The firm, however, remains cautious in the near term given the lack of demand visibility.