ICICI Direct has given Hold recommendation for Infosys with a target price of Rs. 2000 in its research report issued on Apr 17, 2022

ICICI Direct’s research report on Infosys

Infosys Ltd (Infy) is one of the leading IT players catering to BFSI, retail, communication, manufacturing & hi tech verticals. The company generates >58% of revenues from digital technologies • Dividend payout (>80%), margins (>20%) and RoCE (>31%) key positives.

Outlook

We revise our rating on the stock from BUY to HOLD. We value Infosys at Rs 2,000 i.e. 28x P/E on FY24E EPS.

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