Genpact (G) shares surged 5.10% in pre-market trading on Friday, following a series of positive developments that have bolstered investor confidence in the company's future prospects. The stock's upward movement comes on the heels of raised price targets from analysts and the company's announcement of ambitious medium-term growth targets.
TD Cowen has shown increased optimism for Genpact by raising its price target to $55 from $53, while reiterating a Buy rating on the stock. This sentiment was echoed by Jefferies analyst Surinder Thind, who also maintained a Buy rating with a price target of $52. These positive analyst actions reflect growing confidence in Genpact's business model and future performance.
Adding to the bullish sentiment, Genpact unveiled its medium-term targets during an investor day presentation. The company aims to achieve at least 7% revenue growth and double-digit adjusted earnings growth in the coming years. This forward-looking guidance has resonated well with investors, contributing to the stock's pre-market rally as market participants adjust their expectations for Genpact's future financial performance.
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