Arihant Capital recommended accumulate rating on Infosys with a target price of Rs 849 in its research report dated April 12, 2019.
Arihant Capital's research report on Infosys
Infosys came out with good set of numbers in Q4FY19, ahead of our estimate though topline was slightly below our estimate and EBIT margin faced some pressure. Revenue was flat sequentially at Rs 21,539cr against our estimate of Rs 22,109cr. PAT for the quarter stood at Rs 4074cr ahead of our estimate of Rs 3860cr. We are positive on the stock from longer term perspective, however due to cut in FY20E guidance by management, the stock might remain under pressure for few sessions.
Outlook
We maintain our Accumulate rating on the stock with a revised target price of Rs 849.
For all recommendations report, click here
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