J.P. Morgan Upgrading Genpact

J.P. Morgan is upgrading shares of Genpact G to Neutral from Underweight, and is raising its price target to $17 from $16. In a note to clients, J.P. Morgan writes, "Yesterday, Genpact hosted an investor conference and the vibe was quite positive, convincing us that certain risks driving our prior Underweight rating have abated. As such, we are upgrading G from Underweight to Neutral as we have more confidence in our mid-term outlook. Genpact is a high-quality BPM firm, and stock sentiment should improve assuming the new CEO's customer focus and relocation to the U.S. inspires revenue upside. Potential risk from GE (uneven revenue risk and share overhang) and integrating Headstrong explain our Neutral view, but we are incrementally more positive than before with a price target of $17 (up from $16 previously)." Shares of G gained 2 cents yesterday to close at $15.17, a gain of 0.13%.