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Brokerages raise target price on Infosys after June quarter result


India

Brokerages raise target price on Infosys after June quarter result

Brokerages have raised target price on Infosys after the company’s June quarter earnings beat estimates. Infosys reported a 11.4% growth in consolidated net profit for the June quarter at Rs 4,233 crore. In terms of quarterly growth, Infosys posted a 2.03% fall in net profit. HSBC has retained buy and raised target price to Rs…

Brokerages like raised purpose trace on Infosys after the corporate’s June quarter earnings beat estimates.

Infosys reported a 11.4% development in consolidated fetch profit for the June quarter at Rs 4,233 crore. When it involves quarterly development, Infosys posted a 2.03% fall in fetch profit.

HSBC has retained safe and raised purpose trace to Rs 970 from Rs 820. Nomura has upgraded Infosys to safe from neutral and elevated purpose trace to Rs 975 from Rs 710 because of improved positioning in digital, improved capacity to participate in astronomical deals, and better capacity to defend EBIT margins compared to peers, among other components.

Kotak Institutional Equities has retained safe and raised purpose trace to Rs 950 from Rs 775. Ambit has raised purpose trace to Rs 955 from Rs 745 earlier.

CLSA has raised purpose trace on Infosys to Rs 1,000 from Rs 860 and maintained safe recommendation. It has also raised FY21 and FY22 EPS estimates by 9%.

“There used to be microscopic to bitch about in its 1QFY21 (June quarter) outcomes, and with the restoration of formal steerage, the PER (trace to earnings ratio) gap versus TCS can like to decline,” acknowledged CLSA.

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