JPMorgan analyst Puneet Jain lowered the firm’s price target on Grid Dynamics (GDYN) to $9 from $10 and keeps an Overweight rating on the shares as part of a Q4 preview for the digital IT services group. The firm sees unfavorable risk/reward profiles going into results, saying the “persistent weakness” in discretionary IT spending and a challenging first quarter with fewer billing days and clients setting annual budgets should warrant conservative outlooks.
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