UPDATE: BMO Capital Reiterates Market Perform Rating, Raises PT on Infosys - Infosys (NYSE:INFY)

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In a report issued earlier today, BMO Capital Markets reiterated its Market Perform rating on Infosys Limited (NASDAQ: INFY), but also raised its price target from $46 to $48.BMO Capital went on to say “INFY delivered a weak quarter, despite low expectations. More importantly, INFY mentioned a significant recent impact on rev growth from unexpected project ramp-downs in financial services clients in the US. Further, its revenue growth guidance of 8%-10% y/y growth in FY2013 was much lower than investor expectations, in our view.”Infosys Limited closed at $49.15 on Friday.

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