Buy Infosys; target of Rs 1100: Motilal Oswal
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.
January 08, 2018 / 01:54 PM IST
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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