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Fly News Breaks for February 13, 2019
GLOB
Feb 13, 2019 | 07:39 EDT
Wedbush analyst Moshe Katri raised his price target for Globant to $75 from $65 ahead of Q4/2018's upcoming earnings release, as he expects 2019's results to benefit from a combination of ongoing expansion of digital-related project sizes, F/X tailwinds, somewhat offset by the company's diminished exposure to Argentina-based wage inflation. The analyst believes Globant is well positioned to benefit from a multi-year spending cycle on digital/SMAC-related solutions, translating into 25%-30% top-line growth and flat to expanding EBIT margins. He reiterates an Outperform rating on the shares.
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