- 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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