Sharekhan is bullish on Infosys has recommended buy rating on the stock with a target price of Rs 820 in its research report dated January 10, 2020.
Sharekhan's research report on Infosys
Revenue remained in-line with our estimates, while margins missed our estimates slightly; net profit beat on account of higher other income and lower tax provision. Raised revenue growth guidance to 10-10.5% in CC from 9-10% earlier, ahead of our estimates. Clean chit to both CEO and CFO in whistleblower issue allays the concerns and removes overhang on the stock.
We maintain our Buy rating on Infosys with a revised price target of Rs. 820.
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