Last Updated : Jul 16, 2019 03:58 PM IST | Source:

Hold Infosys; target of Rs 845: ICICI Direct

ICICI Direct recommended hold rating on Infosys with a target price of Rs 845 in its research report dated July 15, 2019.

Broker Research @moneycontrolcom
  • bselive
  • nselive
Todays L/H

ICICI Direct's research report on Infosys

Infosys reported a healthy set of numbers in Q1FY20 with revenue above our expectations and in-line margins. The key highlights of the quarter were, strong large deal wins (up 1.7x QoQ to $2.7 billion) and robust growth in digital revenues (up 39.4% YoY & 8.1% QoQ). Further, owing to the healthy start, Infosys has raised its constant currency revenue growth guidance to 8.5-10% (from 7.5-9.5%) for FY20E while maintained operating margin guidance of 21%-23%.


However, recent run up in stock prompt us to downgrade the stock from Buy to HOLD with a target price of Rs 845 (based on 19x FY21E EPS).

For all recommendations report, click here

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

First Published on Jul 16, 2019 03:58 pm