Geojit Financial Services' research report on Infosys
Infosys is India’s second largest IT company. It provides services across various verticals such as Financial Services (FS), Manufacturing (MFG), Energy & Utilities, Communication & Services (ECS), Retail, Consumer packaged goods & Logistics (RCL) and Life Sciences & Healthcare (HILIFE).
Outlook
We slightly toned down our revenue/PAT estimates for FY18E & FY19E by 2.7%/5.2% & 3.5%/6.1% to factor in lower growth estimates. Hence, we have slightly tapered down our target multiple from 14.5x (earlier) to 14x. Recommend HOLD with a revised TP of Rs986 (earlier Rs 1,083).
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