Geojit recommended is bullish on Infosys recommended buy rating on the stock with a target price of Rs 1018 in its research report dated July 20, 2020.
Geojit's research report on Infosys
Revenue surged 8.5% YoY, aided by strong growth in Hi-Tech and Life Sciences verticals. EBIT went up 20.0% YoY, as EBIT margin improved 220 bps to 22.7%. Resultantly, PAT also rose 11.5% YoY. Company revised year-end guidance to 0-2% YoY growth in constant currency terms, with operating margin guidance of 21-23%. Backed by recent large wins coupled with strong order book, Infosys is expected to sail through the year despite near-term woes amidst pandemic.
Outlook
We remain positive on company's Long-term growth prospects and upgrade our rating to BUY with a revised TP of Rs. 1,018 based on 22x FY22E adj. EPS.
For all recommendations report, click here
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