HSBC Maintains ‘Hold’ with a target price unchanged at Rs 800 apiece. In-line with expectations on strong deal wins. Disappointing to see no meaningful upgrade on guidance. Banking and retail verticals show signs of deceleration. Current FY20 valuations remain rich.
UBS Remains ‘Neutral’ with target price unchanged at Rs 900 apiece. Earnings in line with expectations. Lack of revision in guidance caps share’s upside. Guidance suggests a softer exit growth rate for FY21.
Citi Maintains ‘Buy’ with the target price unchanged at Rs 900 apiece. Large deals strong and per expectations. BFSI vertical to be affected by seasonality; retail vertical to remain volatile. The company continued to deliver in a tough macro environment. The case for investment in Infosys stronger in relation to TCS.
Macquarie Maintains ‘Outperform’ with a target price of Rs 830 a share. The guidance below expectations. Ex-retail growth was robust and in line with expectations. Sees volatility in capital markets.
Investec Downgrades to ‘Sell’ from ‘Hold’ and cuts target price to Rs 730 from Rs 745. Weak organic revenue growth performance. Sustaining margin improvement on decelerating growth trajectory could be challenging. Any assumptions on Infosys being insulated from broader industry headwinds would be incorrect.
Kotak Securities Maintains ‘Add’ with a target price of Rs 840 apiece. Good quarter but with a softer outlook. Growth slackens in financial services and retail. The company continues to execute well on strategic priorities. Difficult to argue for further rerating of multiple. The demand environment continues to moderate.
UBS Remains ‘Neutral’ with target price unchanged at Rs 900 apiece. Earnings in line with expectations. Lack of revision in guidance caps share’s upside. Guidance suggests a softer exit growth rate for FY21.
Citi Maintains ‘Buy’ with the target price unchanged at Rs 900 apiece. Large deals strong and per expectations. BFSI vertical to be affected by seasonality; retail vertical to remain volatile. The company continued to deliver in a tough macro environment. The case for investment in Infosys stronger in relation to TCS.
Macquarie Maintains ‘Outperform’ with a target price of Rs 830 a share. The guidance below expectations. Ex-retail growth was robust and in line with expectations. Sees volatility in capital markets.
Investec Downgrades to ‘Sell’ from ‘Hold’ and cuts target price to Rs 730 from Rs 745. Weak organic revenue growth performance. Sustaining margin improvement on decelerating growth trajectory could be challenging. Any assumptions on Infosys being insulated from broader industry headwinds would be incorrect.
Kotak Securities Maintains ‘Add’ with a target price of Rs 840 apiece. Good quarter but with a softer outlook. Growth slackens in financial services and retail. The company continues to execute well on strategic priorities. Difficult to argue for further rerating of multiple. The demand environment continues to moderate.
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