Moneycontrol
Jun 19, 2017 06:22 PM IST | Source: Moneycontrol.com

Buy Infosys; target of Rs 1173: Edelweiss

Edelweiss is bullish on Infosys has recommended buy rating on the stock with a target price of Rs 1173 in its research report dated June 16, 2017.

 
 
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Edelweiss' research report on Infosys


Mr. Sandeep Dadlani, President & Global Head–Manufacturing and Retail, CPG & Logistics (RCL), Infosys, has put in his papers. The exit, post brief stability in the company’s higher management, comes as a surprise as Mr. Dadlani had been recently handed additional responsibility of generating more business from the company’s new software solutions, including the AI platform Nia.


Outlook


Though this yet again raises the stability issue as well portends risk of more exits, we believe induction of several high profile executives over the past will help the company seamlessly fill the void. We reiterate that Infosys, equipped with ample margin levers, will outpace peers on the earnings growth front. Maintain ‘BUY’ with target price of INR 1,173.


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