New York, July 16 (FinanceEnquiry.com) – Analysts at Barclays downgrade their rating on the shares of Infosys Ltd (NASDAQ: INFY) from OVERWEIGHT to EQUAL WEIGHT. The 12-month target price has been reduced to Rs 2,300.
In a research note published on July 13, the analysts mention that with another quarter of guidance miss, succession of disappointments has been continued by Infosys.
In addition to this, either a market share gain for Infosys or a meaningful pressure on sector margins are believed to be implied by aggressive pricing of the Infosys and its willingness to sacrifice margins.
Furthermore, risks could be underestimated by forward going aggressive growth that is implied by full year guidance. Along with the target price, for FY13/14, EPS estimates have been lowered by 6.2 percent/10.7 percent after the results, the analysts add further.
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