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Buy Infosys; target of Rs 1173: Edelweiss

June 19
20:41 2017

Edelweiss’ research report on Infosys

Mr. Sandeep Dadlani, President & Global Head–Manufacturing and Retail, CPG & Logistics (RCL), Infosys, has put in his papers. The exit, post brief stability in the company’s higher management, comes as a surprise as Mr. Dadlani had been recently handed additional responsibility of generating more business from the company’s new software solutions, including the AI platform Nia.

Outlook

Though this yet again raises the stability issue as well portends risk of more exits, we believe induction of several high profile executives over the past will help the company seamlessly fill the void. We reiterate that Infosys, equipped with ample margin levers, will outpace peers on the earnings growth front. Maintain ‘BUY’ with target price of INR 1,173.

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