SUMMARY
IT major Infosys reported a net profit of Rs 5,195 crore in the first quarter of fiscal 2022, below the street expectations. Also, it increased its FY22 revenue growth guidance to 14-16 percent from 12-14 percent earlier. Most brokerages are bullish on the stock as revenue beat expectations while the margin was weaker. Here's what they say:
1 / 5
Credit Suisse on Infosys: The brokerage has an 'outperform' call on the stock with the target at Rs 1,890 per share. The IT major's Q1 results were a mixed bag – strong revenue performance offset by a weaker margin. CS revised FY22 and FY23 EPS by 5 percent and -3 percent, respectively.
2 / 5CLSA on Infosys: The brokerage has a 'buy' call on the stock with the target at Rs 1,900 per share. Infosys remains preferred play on growing digital spending and market share gains, CLSA said, adding that the IT major is also a part of its India Focus Buy List.
3 / 5Bernstein on Infosys: The brokerage maintains an 'outperform' call on the stock with the target at Rs 1,760 per share. It increased its FY23 constant currency revenue/EPS estimates for Infosys after the company’s Q1 results yesterday.
4 / 5Citi on Infosys: The brokerage maintains a 'buy' call on the stock with the target at Rs 1,785 per share. It tweaked EPS estimates marginally for FY22-24. It noted that the company reported a good Q1 with revenue beating estimates while EBIT and guidance raise being in line.
5 / 5Goldman Sachs on Infosys: The brokerage maintains a 'buy' call on the stock with the target at Rs 1,781 per share. It cut EPS estimates for Infosys by 2-3 percent but reiterated the 'buy' given best-in-class digital capability and seamless management execution.
