Sharekhan is bullish on Infosys has recommended buy rating on the stock with a target price of Rs 1300 in its research report dated October 12, 2020.
Sharekhan's research repor on Infosys
We expect strong revenue growth in Q2FY2021, led by demand pick-up in both BFSI and retail verticals and ramp-up of large deals, while margin is expected to remain stable q-o-q. COVID-19 crisis has become a catalyst for Indian IT sector, with acceleration of demand for cloud by clients; Infosys is well-placed to participate in the transformation journey of clients given its full-service model.
We maintain our Buy rating on Infosys with a revised price target to Rs. 1,300 by raising target multiple on expectation of strong results in Q2FY2021E.
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