Cantor Fitzgerald analyst Joseph Foresi maintained a Hold rating on Infosys Limited (INFY) today and set a price target of $10. The company’s shares opened today at $10.91, close to its 52-week high of $10.94.
Foresi observed:
“: We maintain our Neutral rating and PT $10. We recently traveled with management. We walked away from the meetings with the feeling Infosys’ business was moving to a state of stability, a good thing. It appears to be benefiting from recent investments, which has allowed it to take market share and “catch up” in the areas of larger contract signings and Digital work. We continue to believe the balance between profitability and growth will be crucial for longer term success. We look to FY20 (Mar.) guide to provide further visibility on revenue/ margin balance and capital allocation initiatives.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 19.1% and a 81.3% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
Currently, the analyst consensus on Infosys Limited is a Hold with an average price target of $10.33.
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Infosys Limited’s market cap is currently $47.13B and has a P/E ratio of 28.69. The company has a Price to Book ratio of 5.06.
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Infosys Ltd. is a consulting, technology and outsourcing company, which provides end-to-end business solutions thereby enabling clients to enhance business performance. The company operates through following segments: Financial Services, Manufacturing, Retail, Consumer packaged goods and Logistics, the Energy & Utilities, Communication & Services, Hi-Tech, Life Sciences, Healthcare & Insurance and All Other. It offers information technology services, engineering Services, consulting Services, BPO services and products and platforms. The company’s end-to-end business solutions include business information technology services, comprising application development and maintenance, independent validation services, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; consulting and systems integration services, comprising consulting, enterprise solutions, systems integration and advanced technologies; products, business platforms and solutions to accelerate intellectual property-led innovation, including Finacle, its banking product, which offers solutions to address core banking, mobile banking and e-banking needs of retail, corporate and universal banks worldwide. Infosys was founded by K. Dinesh, S. Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Nandan M. Nilekani, Raghavan N. S., Ashok Arora and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.
