Globant price target raised to $215 from $185 at Citi

Citi analyst Ashwin Shirvaikar raised the firm’s price target on Globant to $215 from $185 and keeps a Buy rating on the shares. The analyst expects a relatively in-line quarter for Globant with revenue growth meaningfully exceeding peer performance. Citi attributes the outperformance to Globant’s relatively better geographic and vertical exposure diversification.