01:45 PM EDT, 05/10/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Q1 results contained beats across key metrics and slightly increased annual outlooks for revenue (2.5%-3.5% vs. 2.0%-3.0%) and adj-EPS ($3.01-$3.04 vs. $3.00-$3.03) despite not anticipating any improvement in the macro buying environment. Q1 revenues were $1.13B (+4% Y/Y), surpassing expectations by $20M, driven by better-than-expected performance across Digital Operations (+5%) and Data-Tech-AI (+3%). Adj-EPS was $0.73, a beat of $0.05. G noted its 3+1 Execution Framework (partnerships, Data-Tech-AI, simplification, and Client Zero) is driving strong momentum seen in GenAI-related revenues and bookings. What stood out to us was its partnerships with AWS, Salesforce, Adobe, and Microsoft, signifying increased demand to deliver AI and digital transformation solutions. Our 12-month target price of $42 (unchanged), is 13.0x our 2025 EPS estimate, a discount to G's three-year historical average, but on par with peers' current trading multiples. We keep our 2024 EPS forecast at $3.02 and 2025's at $3.22.