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UPDATE: BMO Capital Markets Reiterates Market Perform Rating, Raises PT on Infosys Ltd.

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Cantor Reviews Infosys' Yearly Guidance, Cuts Price Target

In a report published Monday, BMO Capital Markets reiterated its Market Perform rating on Infosys Ltd. (NYSE: INFY), and raised its price target from $41.00 to $50.00.

BMO Capital Markets noted, “Amid low investor expectations, partly due to cautious comments from INFY in early Dec, INFY reported a very solid Q. Strong growth in Europe and significant improvement in realization helped INFY beat our and Street expectations comfortably. We expect INFY's revenue momentum to continue in FY2014 and hence have raised our estimates significantly. We think that INFY will have to deliver another few strong Qs before it regains its competitive position relative to CTSH and TCS in investors' minds, in our view.”

Infosys Ltd. closed on Friday at $52.22.

Latest Ratings for INFY

DateFirmActionFromTo
Aug 2016HSBCDowngradesBuyHold
Jul 2016NomuraDowngradesBuyNeutral
Jul 2016Credit SuisseDowngradesOutperformNeutral

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Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings

 

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