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Buy Infosys; target of Rs 880: Sharekhan

October 14
16:24 2019

Sharekhan’s research report on Infosys

Revenue remained a tad below our estimates, with margins beat our estimates led by operational efficiencies. Raised lower-end of revenue growth guidance to 9-10.0% in CC from 8.5-10.0% earlier, in-line with our estimates. Despite robust performance (11.9% y-o-y CC) in H1FY2020, the management restricted itself in raising the top-end of the growth guidance given weak seasonality in H2 and macro uncertainties.

Outlook

As Infosys continues to deliver on both revenue and margin front, we maintain our Buy rating on Infosys with an unchanged price target of Rs. 880.

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