Infosys Ltd. share price target

Reported revenue stood at $4,939 million, up 1.7% q-o-q in constant currency (CC) terms, beating our estimate of $4,876 million. EBIT margins improved ~20 bps q-o-q to 21.3 %, beating our estimates. Company closed 17 large deals with TCV of $2.5 billion, up ~3% q-o-q/down 27% y-o-y.

Infosys led the revenue growth in constant currency (CC) for Tier-1 IT service companies in Q2FY25 driven by broad based participation across verticals, and a 2.3% y-o-y growth in CC in its key Financial services vertical.

In light of the improving macroeconomic outlook, stronger client engagement, and upgraded guidance, we upgrade our recommendation to a BUY

Broad-based growth with European auto the only weak spot. Discretionary spending still restricted to US financial services.

Infosys (INFO) reported 2QFY25 revenue of USD4.9b, growth of 3.1% QoQ/3.3% YoY CC vs. our estimate of 3.0% QoQ CC.

Revenue was strong at $4,894 million, up 3.1% q-o-q in constant currency (CC) terms, nearly in line with our estimate of $4,897 million.