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Infosys stock was downgraded to ‘Neutral’ by brokerage firms including Citigroup, Credit Suisse, and CLSA, following a weak Q4 performance on all fronts. Know Infosys' new target price by Nomura, CITI, and CLSA., Markets News, Times Now ....
Shares of information technology (IT) bellwether Infosys slipped as much as 6 per cent in intra-day trade on Thursday after the company s March quarter revenue growth missed Street s estimates, resulting in profit-booking in the counter. The sharp correction pushed Infosys to the bottom of the table among the Sensex pack. Despite the miss on sequential revenue growth, analysts remain bullish on Infosys as they believe underlying metrics such as headcount addition, fresher hiring along with deal win momentum seen through FY21, should continue to aid the company s growth leadership in FY22 as well. But they believe the near-term correction in the prices is likely. ....
A $500 million deal with search-engine giant Google has once again brought the limelight back on Infosys, strengthening the belief that large deal momentum continues to be strong for this Indian IT bellwether, which could translate into a windfall for its shareholders. A report in the Economic Times stated that Infosys has won a $500 million deal from Google to provide customer experience and engineering support for its product. Following the development, the stock was trading up by 0.61 per cent at Rs 1,351.70 on the NSE on Thursday. The stock, however, has lagged benchmark Nifty on a year-to-date basis as it added 7 per cent against a 9 per cent rise in the Nifty50. The underperformance could soon come to an end, believe analysts, who eye an up to 35 per cent upside in the stock from current levels. ....
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. ....