BNP Paribas upgrades Infosys to 'buy' ahead of earnings
Quotes

BNP Paribas upgrades Infosys to 'buy' ahead of earnings

Last Updated: Monday, October 7, 2013, 11:14
 
 Comment 0
 
BNP Paribas upgrades Infosys to 'buy' ahead of earnings
New Delhi: BNP Paribas upgrades Infosys to "buy" from "hold" and raises its target price to 3,550 rupees from 2,450 rupees ahead of the company's September-quarter earnings on Friday.

"Despite Infosys's recent struggles, we believe an uptick in demand, renewed focus on traditional service lines and cost initiatives will lead to revenue growth stabilising and currently depressed quarterly margins recovering. This in turn should lead the stock to re-rate," BNP said in a note.

BNP adds there is improvement in the core markets of Infosys and it may raise its FY14 dollar revenue growth guidance in the second-quarter results.

Infosys shares rose just 0.3 percent in the previous week, underperforming the BSE benchmark for IT sector which rose 2.4 percent in the same period.

Infosys shares are up 0.13 percent at 10:49 a.m.

Reuters



First Published: Monday, October 7, 2013, 11:14


Comments


comments powered by Disqus
G20 Summit 2014
G20 Summit 2014
2014`s Top People in Business: Fortune
2014`s Top People in Business: Fortune
World Bank`s Top 10 Places for Business
World Bank`s Top 10 Places for Business
India`s top ten billionaires
India`s top ten billionaires
Top 10 billionaire cities- In Pics
Top 10 billionaire cities- In Pics

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved