Infosys has target of Rs 2406: Aniruddha Mehta

Infosys has target of Rs 2406, says Aniruddha Mehta, Research Analyst, IIFL.
 
Mehta told CNBC-TV18, “For Infosys, really we have cut the estimates both for FY14 and FY15 by around 6-7 percent. We are guiding to around 6-7 percent of earnings compound annual growth rate (CAGR) over two years. Right now, we have a market performer rating with a target price of Rs 2,406.”
 
Infosys touched its 52-week high Rs 3,010 and 52-week low Rs 2,101.65 on 07 March, 2013 and 26 July, 2012, respectively. Currently, it is trading 23.75 percent below its 52-week high and 9.2 percent above its 52-week low. Market capitalisation stands at Rs 131,787.20 crore.