Genpact Limited (NYSE: G) saw its shares surge 6.48% in pre-market trading on Friday, following a wave of positive analyst actions and the company's impressive fourth-quarter 2024 earnings report, which underscored its successful transition towards becoming a leader in AI-driven transformation.
TD Cowen analyst Bryan Bergin upgraded Genpact to a "Buy" rating from "Hold," raising the price target to $60 from $45. Bergin cited the company's "turnaround traction," pointing to its robust performance and strategic growth initiatives. Similarly, Needham reiterated a "Buy" rating on Genpact, highlighting its robust performance and strategic growth prospects.
Genpact's Q4 2024 results showcased the company's strength, with revenue reaching $1.25 billion, up 9% year-over-year. The Data-Tech-AI segment emerged as a standout performer, growing 12% year-over-year, indicating strong demand for the company's data and technology solutions. Genpact also provided an optimistic outlook for 2025, guiding for revenue growth of 5.5-7.7% and adjusted EPS growth of 9% at the midpoint.
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