Infosys Ltd. share price target

Infosys continues to navigate a measured demand environment, with clients staying guarded on spending but consistently prioritising cost-efficiency and optimisationled programmes. The company remains well aligned with evolving client needs because of its strong positioning in artificial intelligence (AI) services, anchored by the Topaz platform and supported by strategic partnerships across the AI ecosystem. The management's commentary indicates healthy deal momentum and a supportive pipeline, which should aid execution visibility and sustain business...

Infosys delivered a solid Q4FY26 with revenue growing 4.1%YoY in constant currency, while full-year FY26 revenue crossed USD 20bn with 3.1% CC growth, finishing within the upgraded guidance band. Large deal momentum was exceptional, with full-year deal TCV stood at USD 14.9bn, up 24%YoY, including 96 deals of which 55% were net new, reflecting strong client relevance and competitive positioning. Operating margin for Q4 stood at 20.9%, with full-year adjusted margin remained stable at 21%, as currency and Project Maximus gains are reinvested into AI talent, sales and partnerships. Financial services,...

Infosys’ outlook is defined by its transition toward AI-led value creation and realization-led growth, effectively navigating a volatile macro environment.

AI positioning and execution strength offset by demand uncertainty: Infosys is strengthening its AI-led capabilities through partnerships (OpenAI, Google, NVIDIA, etc.) and focusing on large-scale modernization opportunities, which...

4Q revenue a tad weaker than estimate. FY27 organic revenue growth guidance in CC terms at 2.25% lower than 2.4% in FY26

The revenue growth performance (-1.2% CC QoQ) was below our estimates (-0.6% QoQ CC), attributed to seasonality and slower deal ramp ups. Geo-political conflicts and AI deflationary impact pose incremental risk to FY27E growth, which is reflected in the organic revenue guidance (1.5%-3.5% CC). However, the number of large deals wins at 96 (including 3 mega deals) and NN large deal TCV at USD8.2b (+24% YoY) are encouraging, which appears to have misaligned to growth anticipation in FY27E. The guidance is factoring-in around ~75-100bps impact of planned ramp down with a European client and right-shoring impact of ~40-50bps, otherwise each of these...

We recommend a HOLD rating on the stock.

Infosys’ organic growth guidance of 2.2% YoY CC (at mid-point) for FY27 – lower than 2.4% organic growth delivered in FY26 despite strong bookings and better exit rate vs last year is due to: client-specific issues in large European manufacturing client; lower onsite revenue mix; and AI-led compression.

Infosys (INFO) reported 4QFY26 revenue of USD5b, down 1.2% QoQ. In CC, it was down -1.3% QoQ, below our estimate of -0.7% QoQ. Adj. EBIT margin stood at 21%, below our estimate of 21.2%.

Domain-Led Acquisitions Strengthen Vertical Capabilities: Acquisitions of Optimum Healthcare and Stratus enhance Infosys' presence in healthcare and insurance, adding deep domain expertise and improving access to high-value, regulated transformation deals. AI-First Strategy Drives Enterprise-Wide Transformation Positioning: Infosys' AI-first framework embeds AI across ~90% of top client engagements, positioning it as an end-to-end enterprise AI orchestrator with strong monetization visibility. Margin Resilience Despite Growth Investments: Operating margins remain...

Infosys has signed definitive agreements to acquire Optimum Healthcare IT (up to USD465mn; ~1.7x P/S) and Stratus Global LLC (up to USD95mn; ~2.2x P/S), with a combined cash consideration of ~USD560mn.

The Company’s strategic decision is fundamentally anchored in becoming an AI-first enterprise transformation partner, as articulated during its Investor AI Day.

We attended Investor AI Day hosted by Infosys, where the management outlined its strategy of unlocking value from AI with the ongoing tech transition.

Navigating its next with an AI first value framework About the stock: Infosys is one of the leading IT players catering to BFSI, Retail, Infosys at its investor day, unveiled its AI First Value Framework and Topaz suite, targeting a US$300400 bn AI-first services opportunity by 2030 (Nasscom McKinsey). The strategy focuses on capturing new AI demand and augmenting...

We maintain our BUY rating on the stock at a 23x P/E multiple to its Dec'27 earnings to arrive at a TP of Rs 1,820/share, implying an upside of 31% from the CMP.

shifting from applications development or infrastructure management to a more complex role, training AI models or building orchestrating layer, even beyond the funnel the agentic deployment, establishing governance and...

We attended Infosys’ AI Day 2026 where management outlined its AI-first strategy and positioning for the next technology cycle.

Infosys delivered robust financial results in Q3FY26, reflecting resilient demand and effective execution across key business verticals. The quarter saw notable developments, including robust deal wins, strategic artificial intelligence (AI) partnerships and successful execution of its largest-ever buyback. The company benefited from strong momentum in AI adoption, improved employee retention and continued expansion in core business segments. The management's focus on upskilling and talent retention further strengthened its position. Consistent success in securing significant fresh deals has enabled the company to steadily expand its...

The company's Q3FY26 performance highlighted disciplined execution amid macro uncertainty, with sustained CC growth and FY26 revenue guidance upgraded to 33.5%, reflecting recovery in discretionary spending. Large-deal momentum remains robust at USD 4.8bn with 57% net-new, indicates a strong demand visibility, particularly in financial services where Infosys is a preferred AI partner for 15 of the top 25 banking clients. The company has firmly positioned itself at the forefront of enterprise AI monetization, engaging 90% of its top-200 clients across 4.6k AI projects, supported by its differentiated Topaz and Fabric platforms coupled with...

We maintain BUY rating on the stock.