Motilal Oswal is bullish on Infosys has recommended buy rating on the stock with a target price of Rs 1100 in its research report dated December 03, 2017.
Motilal Oswal's research report on Infosys
Infosys announced over the weekend that its Board of Directors has appointed Salil S. Parekh as Chief Executive Officer and Managing Director (CEO&MD) of the Company effective January 2, 2018. Mr. Parekh joins Infosys from Capgemini where he was a member of the Group Executive Board. Mr. U B Pravin Rao will step down as the interim CEO and Managing Director effective January 2, 2018 and will continue as Chief Operating Officer and a whole -time Director of the Company.
Our price target of INR1,100 discounts forward earnings by 15x, implying 15% upside. We retain our Buy rating, and believe that the gradual recovery to normalcy will provide further case for rerating.
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