Brics: Another Weak Guidance and Weak Quarter for Infosys Technologies

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In a research report published earlier today by Brics, Infosys Technologies'
INFY
management has indicated that the weakness the company has seen may very well spill into Q1FY13. According to Brics, "While maintaining our Add rating, we revise our FY13-14 earnings estiamtes down by 4.2% and 3.2% and cut target to Rs2,600 (from Rs2,900). We assign 15x P/E vs. earlier 18x on weak growth prospects from persisting weakness in top-10 client, higher exposure to discretionary spends, and possible uptick in attrition." Infosys Technologies closed Friday at $49.15.
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Posted In: Analyst ColorReiterationAnalyst RatingsBRICS
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