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Last Updated : Jan 15, 2019 11:39 AM IST | Source: Moneycontrol.com

Accumulate Infosys; target of Rs 800: Arihant Capital

Arihant Capital recommended accumulate rating on Infosys with a target price of Rs 800 in its research report dated January 12, 2019.

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Arihant Capital's research report on Infosys


Revenues were Rs 21,400 crore for the quarter ended December 31, 2018, YoY growth of 20%; QoQ growth of 4%. Revenues grew sequentially by 3.8% in INR terms and 2.7% in constant currency terms. Digital revenues at $942 million (31.5% of total revenues), YoY growth of 33.1% and sequential growth of 5% in cc terms. EBIT margins stood at 20.5% vs 23.3% Qoq, this includes one off. Net profit was Rs 3,610 crore for the quarter ended December 31, 2018, YoY de growth of 30%; QoQ de growth of 10%.


Outlook


Currently the stock is trading at a PE of 17x to its estimated FY20 EPS. We valued Infosys at PE of 20x of our estimated FY20 EPS of Rs 40 and arrive at a target price of Rs 800 with ‘Accumulate’ rating on the stock.


For all recommendations report, click here


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First Published on Jan 14, 2019 03:48 pm
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