CLSA cuts target price on Infosys by 7%
Friday, April 14, 2017, 12:37 PM
CLSA has slashed target price on Infosys shares by 7% to Rs.990 following the company's March quarter-earnings announcement. The company's guidance for the current FY implies further slowdown in growth, the brokerage said. "FY18 guidance is uninspiring at 6.5-8.5%, suggesting further growth slowdown from FY17. While margin management and cash conversion were positive, it is difficult to overlook its anaemic growth trajectory," said CLSA.