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UPDATE: Jefferies Raises PT on Infosys Following Positive 1Q Results

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Mid-Afternoon Market Update: Infosys Rises Following Q4 Results; Ixia Shares Slide
Infosys Q4 Earnings Conference Call: Full Transcript

In a report published Friday, Jefferies analyst Vishal Agarwal reiterated a Buy rating on Infosys (NYSE: INFY), and raised the price target from $51.00 to $57.00.

In the report, Jefferies noted, “Infosys' 1Q was a positive surprise on revenue, margins and guidance, reflected in the stock as well. Given the volatile macro, it was a surprise that the discretionary services did well this quarter, while the bread-and-butter part was steady. With large deal wins continuing (seven in 1Q), we are positive on volume growth and the resultant operating leverage. Remain positive with a medium-term view as the demand cycle turns in favour.”

Infosys closed on Thursday at $44.04.

Latest Ratings for INFY

DateFirmActionFromTo
Feb 2016Cowen & CompanyInitiates Coverage onMarket Perform
Jan 2016Credit SuisseUpgradesNeutralOutperform
Dec 2015Sterne Agee CRTInitiates Coverage onNeutral

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Posted-In: Jefferies Vishal AgarwalAnalyst Color Price Target Analyst Ratings

 

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