Sharekhan is bullish on Infosys has recommended buy rating on the stock with a target price of Rs 840 in its research report dated July 12, 2019.
Sharekhan's research report on Infosys
Revenue in-line for the quarter, with acceleration in y-o-y growth (12.4%) in constant currency (CC) terms. EBIT margin declines on a q-o-q basis to 20.5%, above our estimates, owing to rupee appreciation and wage revision. Raised revenue growth guidance to 8.5-10.0% in CC from 7.5-9.5% earlier, better-than our expectation of keeping guidance flat.
We maintain our Buy rating on Infosys with an unchanged price target of Rs. 840.
For all recommendations report, click here
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