Sharekhan is bullish on Infosys has recommended buy rating on the stock with a target price of Rs 840 in its research report dated April 12, 2019.
Sharekhan's research report on Infosys
Revenues in-line for the quarter, with growth in constant currency (CC) revenue led by ramp-up of deals. EBIT margin declines on a q-o-q basis to 21.4%, owing to higher investments in digital and localisation. Muted CC revenue growth guidance of 7.5-9.5% as well as weak margin guidance projected for FY2020E.
Outlook
We maintain our Buy rating on Infosys with an unchanged price target of Rs. 840.
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