June 25, 2018 / 4:54 AM / 3 months ago

BUZZ-India's Infosys up for 4th session; Morgan Stanley raises TP

** Shares of Infosys Ltd climb as much as 2.1 pct to 1,274.7 rupees, highest since June 18

** Stock posts biggest intraday pct gain since June 15 and on track for a fourth straight session of gains

** Morgan Stanley raises TP to 1,360 rupees from 1,261 rupees

** Says less worried about management stability at this moment, but believe acceleration in growth maybe gradual

** Raises FY19-21 EPS estimates by 4 pct-5 pct to reflect currency tailwinds

** Says gradual recovery in revenue growth, currency tailwinds support margins in F19, and strong yield supports “overweight” rating

** Thirty five of the 46 analysts covering stock have “buy” or higher ratings, 6 “hold”, and 5 “sell” or lower ratings; median PT at 1,285 rupees - Thomson Reuters data

** Stock had risen nearly 21 pct this year as of Friday, compared with 18.1 pct gain for Nifty IT index

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