NEW DELHI: Infosys's third quarter results beat Street projections and analysts' fresh targets suggest up to 61 per cent potential upside in the scrip, even as the stock took a breather on Thursday following a 15 per cent rally in the last one month. Foreign brokerage CLSA finds the stock worth Rs 1,620 apiece. It said that the December quarter results indicated improved confidence on the margin defence front, terming the company's deal wins strong and outlook optimistic. The brokerage expects Infosys's FY22-23 margins to stay at the upper band of 23-24 per cent. Citi sees the stock at Rs 1,590, as it increased its FY21-23 EPS estimates for the IT firm by 1-8 per cent, and values the stock at 29 times. Deals were meaningfully higher, it said, noting that the margin and revenue guidances were revised upward.