Infosys 'turning the corner' - JPMorgan
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)
- Tweet this
- Share this
- Digg this
Prime Minister Narendra Modi has a long list of pro-growth measures to implement over the next four months, but time may have already run out to breathe enough life into the economy to meet the tough 2014/15 fiscal deficit target. Article