Infosys has target of Rs 2850: Aniruddha Mehta

Infosys has target of Rs 2850, says Aniruddha Mehta, Research Analyst of IIFL India Pvt Client.

Mehta told CNBC-TV18, "For Infosys we have a target price of Rs 2,850, which is running around 13.7X FY15  earnings, which we feel is a pretty well valuation for the company. I would probably draw a line over here."
He further added, "For FY13 we have EPS target of Rs 164 and FY14 of Rs 177.50."
The share touched its 52-week high Rs 2,990 and 52-week low Rs 2,101.65 on 22 February, 2012 and 26 July, 2012,  respectively. Currently, it is trading 6.28% below its 52-week high and 33.34% above its 52-week low. Market  capitalisation stands at Rs 160,915.33 crore.
The company's trailing 12-month (TTM) EPS was at Rs 129.58 per share. (Dec, 2012). The stock's price-to-earnings  (P/E) ratio was 21.64. The latest book value of the company is Rs 518.20 per share. At current value, the price-to-book  value of the company was 5.41. The dividend yield of the company was 1.68%.