Infosys Ltd. share price target

Infosys Limited provides IT consulting and software services, including ebusiness, program management and supply chain solutions. The Group's services include application development, product co-development, and system implementation and system engineering. Infosys targets businesses...

Infosys for the quarter ended Sep 2021 registered a consolidated sales of Rs 29602 crore, a growth of just 6%QoQ and 20%yoy basis. On USD terms the revenue for the quarter was up by 5.7%QoQ basis and 20.7%YoY basis. On CC basis the revenue growth was 6.3% QoQ and...

Infy reported strong growth of 6.3% QoQ CC, 5.7% QoQ USD much above our estimates (Ple: 4.8%, Cons: 5.5%) led by strong broad-based demand across verticals and markets. Daimler deal contributed 1.5% to revenues. Infy's revenue from digital business showed sustained strong growth (9.8% QoQ,...

years (from ~| 445 in October 2016 to ~| 1,726 levels in October 2021). We continue to remain positive and retain our BUY rating on the stock Target Price and Valuation: We value Infosys at | 2,060 i.e. 32x P/E on FY23E EPS...

INFO reported a growth of 6.3% QoQ CC, ahead of our estimate of 5.7%, on the back of a broad based performance. Large deal TCV of USD2.15b was a tad soft (net new at 37%). However, the management indicated good traction in medium and small size deals, and reiterated that the pipeline remains strong on robust demand. EBIT margin dipped 10bp QoQ to 23.6%, above our estimate of 22.3%, despite the impact of higher subcontracting expenses and wage hike in 2QFY22. Utilization (+70bp QoQ) and offshore mix (+50bp) remains...

Growth accelerated in Q2 with resilient operating margin Q2FY22 revenue grew by 6.3%/19.4% QoQ/YoY in CC and 5.7%/20.7% QoQ/YoY in US$ terms. The company witnessed broad based growth across all sectors, service lines, and geographies, with the digital solutions (56.1% of revenue) growing by +42.4% YoY in CC terms. US$100 mn clients were +1 QoQ to 35. Q2FY22 saw EBIT margin declining by 10bps QoQ to 23.6%. It was impacted by higher subcontracting cost (-50bps) and wage hike (-110bps), partly offset by cross currency (+30bps) and other operational efficiency (+80bps) and SG&A; (+30 bps)....

We recommend a BUY and assign 26x P/E multiple to its FY24E earnings of Rs 73.5/share to arrive at a TP of Rs 1,930/share, implying an upside of 13% from CMP.

Stellar Q2 with revenue growth at 5.7% USD QoQ vs. 4.2% estimated and resilient operating margin

Infosys Limited provides IT consulting and software services, including ebusiness, program management and supply chain solutions. The Group's services include application development, product co-development, and system implementation and system engineering. Infosys targets businesses...

We recommend a BUY rating on the stock and assign a 28x P/E multiple to its FY23E earnings of Rs 62.3/share to arrive at a TP of Rs 1,740/share, implying an upside of 10% from CMP.