Moneycontrol
Last Updated : Jan 15, 2019 11:39 AM IST | Source: Moneycontrol.com

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.

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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.

First Published on Jan 14, 2019 03:42 pm
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