TD Cowen upgrades Genpact to Buy on turnaround traction

TD Cowen analyst Bryan Bergin upgraded Genpact (G) to Buy from Hold with a price target of $60, up from $45. The company’s turnaround traction “has built steam” and Genpact is likely to return to double-digit earnings and sales growth in 2025, the analyst tells investors in a research note. The firm says the initial 2025 guidance is a “clearing event” while consistent execution into a steadily improving services backdrop should support continued positive estimate revisions. TD expects Genpact shares to rise on continued estimate and valuation upside as the bear cases fade.