Infosys 'turning the corner' - JPMorgan

Mon Feb 25, 2013 4:21pm IST

Employees of software company Infosys walk past Infosys logos at their campus in the Electronic City area in Bangalore September 4, 2012. REUTERS/Vivek Prakash/Files

Employees of software company Infosys walk past Infosys logos at their campus in the Electronic City area in Bangalore September 4, 2012.

Credit: Reuters/Vivek Prakash/Files

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Reuters Market Eye - J.P.Morgan raises its target price on Infosys Ltd (INFY.NS) to 3,200 rupees from 3,100 rupees while maintaining its "buy" rating.

The brokerage says Infosys "is likely turning the corner", given the Indian software services exporter is proving more flexible in winning deals, embracing "a more realistic" margin profile and trying to re-engage with employees.

These developments are coming on the back of an improving demand environment for the sector, the investment bank adds.

Infosys ended up 2.8 percent at 2,917.00 rupees.

(Reporting by Manoj Dharra)

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