Goldman Sachs Sees 26% Upside For Globant - Read Why - Globant (NYSE:GLOB)

Goldman Sachs analyst Diego Aragao upgraded Globant SA GLOB to Buy from Neutral with a price target of $395, up from $235, implying a 26.1% upside.
Globant is well-positioned to continue providing value-added services and a "differentiated" offering while taking advantage of the growing global demand for digital solutions, Aragao notes.
Aragao believes Globant can sustain current relative valuation levels given the "superior-quality of its offerings."
He remains constructive on the Latin American Technology sector, expecting the urgency of digitalization to continue driving improved sales growth and margin expansion for at least the next three years.
Price Action: GLOB shares closed lower by 2.2% at $313.12 on Monday.

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Goldman Sachs Sees 26% Upside For Globant - Read Why