Genpact (NYSE: G) shares surged 5.10% in pre-market trading on Friday, following the company's investor day presentation and positive analyst reactions. The professional services firm specializing in business process management and information technology services unveiled ambitious medium-term targets, sparking investor enthusiasm.
During its investor day, Genpact issued medium-term targets of at least 7% revenue growth and double-digit adjusted earnings growth. These robust projections underscore the company's confidence in its business model and growth strategies, resonating well with market participants.
The optimistic outlook was further reinforced by several analyst upgrades. TD Cowen analyst Bryan Bergin reiterated a Buy rating on Genpact and raised the price target to $55 from $53. Similarly, Jefferies analyst Surinder Thind reaffirmed a Buy rating with a price target of $52. These positive assessments from Wall Street analysts have likely contributed to the stock's pre-market rally, as investors align their expectations with the bullish sentiment expressed by industry experts.
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