ICICI Direct recommended hold rating on Infosys with a target price of Rs 1180 in its research report dated April 24, 2018.
Broker Research
ICICI Direct's research report on Infosys
We attended Infosys’ analyst day, wherein the management detailed its four pillar strategy- 1) scaling agile digital business (current run rate- US$2.8 billion in revenue), energising the client’s core technology landscape via AI & automation, reskilling its employees, and expanding localisation in markets like the US, Europe and Australia.
Outlook
We estimate Infosys will report rupee revenue CAGR of 9.3% in FY18-20E. We maintain our HOLD rating on the stock and revise our target price to | 1180 (16x FY20E EPS, in line with its five-year average).For all recommendations report, click here
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