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UPDATE: Axis Capital Upgrades Infosys to Buy on Deal Win Ratio, Q3 Results

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Axis Capital upgraded Infosys (NASDAQ: INFY) from Hold to Buy.

Axis Capital commented, "Volume growth to accelerate: given higher deal win ratio, 8 large outsourcing deal wins in Q3, increase in client mining (> USD 50 mn clients) and likely increase in contribution from US geography (61% revenue share). Q3 volume growth of ~2% QoQ in a seasonally weak quarter (and Sandy storm) signals better times ahead. While management indicated macro is still challenging and CY13 IT budgets may be flat-to-declining (clarity expected in Feb '13), we believe better pricing and strong deal pipeline led by key initiatives undertaken by the company will help maintain revenue momentum."

Infosys closed at $43.95 on Friday.

Latest Ratings for INFY

DateFirmActionFromTo
Oct 2014CitigroupDowngradesBuyNeutral
Apr 2014JefferiesMaintainsBuy
Sep 2013BairdUpgradesNeutralOutperform

View More Analyst Ratings for INFY
View the Latest Analyst Ratings

Posted-In: axis capitalAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

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