Once a star performer among the mid-tier IT companies, MphasiS has been a laggard this year, especially as a decline in revenue coming via its parent Hewlett Packard (HP) has hurt its earnings in the last few quarters.
Infosys has had a tradition of giving a conservative guidance and then outperforming itself. However, the market no longer seems to be enthused. Tuesday, the stock tanked 5% even as the technology bellwether reported first quarter earnings, which were only slightly below analysts expectations.
According to Srishti Anand, IT Analyst, Angel Stock Broking, Infosys’ FY11 EPS would be close to Rs 121. “We are looking at close to 10-11% kind of upsides. Right now, price target is Rs 3,560 and we may revise it upwards,” she adds.
Buy Infosys Technologies, says Srishti Anand, IT Analyst, Angel Stock Broking.