Infosys Jumps on Citi Upgrade

Citigroup upgraded shares of Infosys Ltd.

during Wednesday's trading session, causing the stock to jump intra-day. Citi raised INFY from Neutral to Buy and said that a recent correction in the stock has created a favorable risk/reward situation. The analysts wrote that "while there is a lack of near-term catalysts, we see value at current levels and would start accumulating the stock." Prior to the upgrade, INFY shares were trading very moderately lower. After the report was released, the stock immediately jumped and was up 1.11% to $46.25 at last check. Over the last month, INFY has lost 19%, and year-to-date, the stock is down roughly 10%. Infosys Limited (Infosys), formerly Infosys Technologies Limited, is a global technology services company. The Company provides business consulting, technology, engineering and outsourcing services to help clients in over 30 countries.