In a report released today, Joseph Foresi from Cantor Fitzgerald maintained a Hold rating on Infosys Limited (INFY), with a price target of $10. The company’s shares closed on Friday at $10.90, close to its 52-week high of $10.93.
Foresi noted:
“Our Neutral rating is based on a lack of consistency in performance. We value INFY in line with the group as growth rates begin to reaccelerate. We will continue to monitor the company’s ability to reaccelerate revenue growth and maintain its margin structure in the face of commoditization and pricing pressure. Valuation Summary Our price target of $10 is based on 18x our CY19 EPS estimate and 12x our CY19 EV/ EBITDA estimate backed by our DCF model.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 18.6% and a 78.8% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
Infosys Limited has an analyst consensus of Hold, with a price target consensus of $10.33.
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Infosys Limited’s market cap is currently $47.39B and has a P/E ratio of 28.85. The company has a Price to Book ratio of 5.09.
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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.
