Buy Infosys, target of Rs 1950: PINC Research
PINC Research has upgraded its rating on Infosys Technologies from sell to buy, with price target of Rs 1950, in its report dated June 24, 2009.
“We upgrade our rating on Infosys from ‘SELL’ to ‘BUY’ with a target price of Rs 1,950, an upside of 12%. We believe that the worst is over for USA, which accounts for 60% of the revenues for the major Indian IT vendors. The signs of recovery will help Infosys to post muted single digit growth in terms of revenues. The management also believes that things are improving from their clients’ end which will provide them the much needed volume growth,” says PINC’s research report.
source: Moneycontrol
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