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Fly News Breaks for November 29, 2016
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Nov 29, 2016 | 07:13 EDT
Piper Jaffray analyst George Tong says he's incrementally more positive on the growth prospects for Genpact following a policy analysis of the Trump administration's stance on immigration reform and H-1B visas. A tightening of H-1B visa quotas will constrain the supply of skilled labor and drive upward pressure on wages, prompting employers to consider business process outsourcing as an alternative to organic hiring, Tong tells investors in a research note. Further, the analyst expects Genpact's competitors in IT outsourcing to be disproportionately harmed by restrictions in the H-1B visa program. Tong has an Overweight rating on Genpact with a $29 price target.
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