Buy Infosys; target of Rs 1150: Religare

Religare is bullish on Infosys has recommended buy rating on the stock with a target price of Rs 1150 in its research report dated October 14, 2016.
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Oct 19, 2016, 06.14 PM | Source: Moneycontrol.com

Buy Infosys; target of Rs 1150: Religare

Religare is bullish on Infosys has recommended buy rating on the stock with a target price of Rs 1150 in its research report dated October 14, 2016.

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Buy Infosys; target of Rs 1150: Religare

Religare is bullish on Infosys has recommended buy rating on the stock with a target price of Rs 1150 in its research report dated October 14, 2016.

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, Religare Retail Research |


Religare's research report on Infosys

INFO reported an above-expected Q2FY17 with revenues up 3.9% QoQ in CC terms and margins rising 80bps QoQ. Growth was broad-based (most geographies did well), with strong volumes and stable pricing. Despite a robust Q2, INFO cut its FY17 dollar revenue growth guidance to 7.5-8.5%, implying a -0.6% to +0.6% CQGR for the next two quarters. While the guidance cut was expected, the magnitude surprised us and the weak implied growth rates could cap near-term upsides. Nonetheless, we believe margin levers remain intact and reiterate BUY.

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The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.


To read the full report click here

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