G - CitiResearch downgrades Genpact adds more IT services companies to watchlist
2023-07-18 10:37:04 ET
Genpact ( G ) stock price is down 1%, as Citi Research downgraded the stock to Neutral from Buy as it expects lower results for the full year as compared to the outlook provided by the company.
Citi Research is concerned that the full year consensus was not 4Q-weighted as suggested by the company on its Q1 call . Given the tough environment, the full year revenue outlook could be revised lower.
Two companies, including ExlService ( EXLS ) and IBEX ( IBEX ) are on catalyst watch. Citi expects EXLS to potentially beat and raise IT services companies this earnings cycle. IBEX's ( IBEX ) initial full year 2024 revenue outlook is expected to miss expectations due to macro-related impacts, and their move from IFRS to GAAP reporting is likely to worsen the negative reaction.
More on Genpact, EXLS, and IBEX:
- Genpact: Growth Pegged On AI Consumption Business Models
- ExlService Holdings: This Stockpicker's Dream Stock (Almost)
- ExlService Holdings: Demand Trends And Outlook Both Look Healthy
- IBEX: Modest Growth At Modest Valuation
For further details see:
CitiResearch downgrades Genpact, adds more IT services companies to watchlist