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UPDATE: Edelwiss Downgrades Infosys to Hold on Limited Upside Post Strong Quarter

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Edelwiss downgraded Infosys (NASDAQ: INFY) from Buy to Hold.

Edelwiss noted, "Infosys gained momentum in a seasonally weak quarter. The company posted organic growth of 4.2% QoQ (6.3% incl. Lodestone) versus Street estimate of 3.5%. EBITDA margin at 28.5% was in line with Street estimate. Further, the company maintained its FY13 organic revenue growth guidance at 5% in USD terms (incl. Lodestone guidance of 6.5%). Although we remain positive on the stock and believe the company will be a significant beneficiary of margin improvement once growth returns, we believe the sharp price movement (~16%) builds in current positives. Hence, we prefer to wait for visible signs of improvement to re-rate the stock."

Infosys closed at $43.95 on Friday.

Latest Ratings for INFY

DateFirmActionFromTo
Aug 2015JefferiesUpgradesUnderperformBuy
Jul 2015MacquarieUpgradesNeutralOutperform
Jul 2015SusquehannaMaintainsNeutral

View More Analyst Ratings for INFY
View the Latest Analyst Ratings

Posted-In: EdelwissAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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