By Aditya Raghunath
Investing.com -- Infosys Ltd (NS:INFY) is currently trading at Rs 1,342, down almost 4% from Tuesday. This drop in price comes after the company reported its results for Q4 FY2021. Infosys had a sequential drop of 2.3% in profit at Rs 5,076 for the quarter.
Sequential revenue grew 1.5% to Rs 26,311 crore in the same period, and the company announced a buyback of shares worth Rs 9,200 crore at a price of Rs 1,750 per share.
Brokerage firms are bullish on Infosys’ stock price with Macquarie assigning an ‘outperform’ to the stock with a price target of Rs 1,680. The firm says that Infosys’ guidance is in line with analyst estimates.
Domestic brokerage Motilal Oswal (NS:MOFS) has assigned a ‘buy’ rating to the company with a target price of Rs 1,600. The firm says that Infosys will be a “key beneficiary of a recovery in IT spends in FY22E, given its capabilities around Cloud and Digital transformation. Leading operational performance in FY21 and strong deal wins should translate into strong outperformance in EPS growth (v/s the sector).”
Goldman Sachs Group Inc (NYSE:GS) has assigned a target of Rs 1,699 to the stock on string execution expectations while CLSA says Infy stock can hit Rs 1,660. Credit Suisse (SIX:CSGN) has cut its target from Rs 1,810 to Rs 1,725.