Buy Infosys; target of Rs 840: Sharekhan

Sharekhan recommended is bullish on Infosys has recommended buy rating on the stock with a target price of Rs 840 in its research report dated January 11, 2019.

Broker Research

January 15, 2019 / 11:39 IST

live

bselive
nselive

Volume

Todays L/H

Sharekhan's research report on Infosys

Revenue beats estimates, with constant currency (CC) revenue up by 2.7% q-o-q, led by strong growth across key verticals. EBIT margin declined on a q-o-q basis to 22.6%, owing to higher subcontractor costs along with additional investments in digital and localisation. Infosys has increased CC revenue growth guidance to 8.5-9% from 6-8%, indicating signs of good progress of its strategy; retained EBIT margin guidance.

Outlook

We maintain our Buy rating on Infosys with an unchanged price target of Rs. 840.

Broker Research

first published: Jan 14, 2019 03:42 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347