Buy Infosys; target of Rs 840: Sharekhan

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.

Broker Research

July 15, 2019 / 15:02 IST

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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.

Outlook

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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Broker Research

first published: Jul 15, 2019 03:02 pm

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