Macquarie analyst Ravi Menon upgraded Infosys to Neutral from Underperform with a INR 1,560 price target. The analyst sees reduce the risk of significant cost overruns following the company’s earnings report, which the firm says included broad-based growth. An increase in unbilled revenue or other cashflow drags a negative catalyst while any large deal wins can be a positive catalyst, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on INFY:
- Options Volatility and Implied Earnings Moves Today, July 18, 2024
- Infosys: Stellar all round performance with 3.6% sequential revenue growth in cc, 1% operating margin expansion
- INFY Upcoming Earnings Report: What to Expect?
- Infosys selected by Delaware Department of Labor for system modernization
- Infosys announces five-year collaboration with Sector Alarm
Questions or Comments about the article? Write to editor@tipranks.com