Globant price target lowered to $165 from $205 at Canaccord

Canaccord analyst Joseph Vafi lowered the firm’s price target on Globant (GLOB) to $165 from $205 and keeps a Hold rating on the shares. The firmsaid its Q4 results underscore another steady quarter of growth, highlighted by double- digit revenue gains year-over-year and some modest sequential growth. While political and macro uncertainty in Mexico and Brazil are impacting demand in LatAm, growth was strong in New Markets and Europe. In North America.