In a report released today, Keith Bachman from BMO Capital maintained a Hold rating on Infosys Limited (INFY – Research Report), with a price target of $11. The company’s shares opened today at $10.41, close to its 52-week high of $10.68.
According to TipRanks.com, Bachman is a 5-star analyst with an average return of 14.1% and a 63.3% success rate. Bachman covers the Technology sector, focusing on stocks such as DXC Technology Company, Salesforce.com, and New Relic Inc.
Currently, the analyst consensus on Infosys Limited is a Hold with an average price target of $9.77, which is a -6.1% downside from current levels. In a report released today, Oppenheimer also maintained a Hold rating on the stock.
Based on Infosys Limited’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $582 million. In comparison, last year the company had a net profit of $797 million.
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Infosys Ltd. is a consulting, technology and outsourcing company, which provides end-to-end business solutions thereby enabling clients to enhance business performance. The company operates through following segments: Financial Services, Manufacturing, Retail, Consumer packaged goods and Logistics, the Energy & Utilities, Communication & Services, Hi-Tech, Life Sciences, Healthcare & Insurance and All Other. It offers information technology services, engineering Services, consulting Services, BPO services and products and platforms. The company’s end-to-end business solutions include business information technology services, comprising application development and maintenance, independent validation services, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; consulting and systems integration services, comprising consulting, enterprise solutions, systems integration and advanced technologies; products, business platforms and solutions to accelerate intellectual property-led innovation, including Finacle, its banking product, which offers solutions to address core banking, mobile banking and e-banking needs of retail, corporate and universal banks worldwide. Infosys was founded by K. Dinesh, S. Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Nandan M. Nilekani, Raghavan N. S., Ashok Arora and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.