Moneycontrol
Apr 21, 2017 12:14 PM IST | Source: Moneycontrol.com

Hold Infosys; target of Rs 986: Geojit Financial Services

Geojit Financial Services recommended hold rating on Infosys with a target price of Rs 986 in its research report dated April 19, 2017.

Hold Infosys; target of Rs 986: Geojit Financial Services

Geojit Financial Services' research report on Infosys

Infosys is India’s second largest IT company. It provides services across various verticals such as Financial Services (FS), Manufacturing (MFG), Energy & Utilities, Communication & Services (ECS), Retail, Consumer packaged goods & Logistics (RCL) and Life Sciences & Healthcare (HILIFE).

Outlook

We slightly toned down our revenue/PAT estimates for FY18E & FY19E by 2.7%/5.2% & 3.5%/6.1% to factor in lower growth estimates. Hence, we have slightly tapered down our target multiple from 14.5x (earlier) to 14x. Recommend HOLD with a revised TP of Rs986 (earlier Rs 1,083).

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