Hold Infosys; target of Rs 1200: Emkay

Emkay Stock Broking has recommended to hold Infosys with a target price of Rs 1200 in its research reoprt dated October 12, 2015.

October 13, 2015 / 12:34 IST

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Emkay Stock Broking's report on InfosysWe tweak our FY16/17E EPS up by 1%/0.7% each to Rs 57.5/66.5 respectively driven by Sep’15 quarter beat and slight change in our operational estimates. While Infosys’s FY16 revenue guidance does appear conservative given the strong H1FY16 performance (and the favorable asking rates for H2FY16), investors would wait for more clarity on near term industry demand from peers who report over the next few days to better assess whether Infosys’s guidance is conservative or not. We see Infosys’s valuation re-rating trade taking a pause for now and retain HOLD, TP Rs 1,200 (V/s Rs 1,180 earlier). For all recommendations, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

first published: Oct 13, 2015 12:34 pm

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