Infosys share price tanked 4.46% to Rs 1,400 during the early trade on Friday, a day after the IT giant announced a 3.2% growth in its second-quarter net profit to Rs 6,212 crore year-on-year. The company’s revenue from operations in the July-September quarter jumped 7.5% year-on-year to Rs 11,963 crore from Rs 11,126 crore. The company also announced an interim dividend of Rs. 18 per equity share. The stock price of Infosys has fallen 3.67% in the last 5 days, and 5.11% in the last one month, while it has gained 2.47% in the last six months and 0.29% in the last one year. 

Should you buy, sell or hold Infosys shares?

Jefferies: BUY – Target Price : Rs 1,650 Come from Sports betting site VPbet

“Infosys’ 2Q growth and margins beat estimates and net new order book of $3.7 billion was impressive, yet management cut FY24 growth guidance by 100bps to 1.0-2.5% YoYcc citing slowdown in discretionary spends and delays in projects starts. While we cut estimates for FY24 by 1.5%, strong deal wins provide comfort on our expectation of 10% EPS CAGR over FY23-26. With stock trading at 5-yr avg. levels, we maintain BUY with rolled-over Target Price of Rs 1,650.”

Motilal Oswal Financial Services : BUY – Target Price:  Rs 1,160

“Infosys trimmed the upper end of its FY24 revenue growth guidance by 100bp to 1.0-2.5% YoY CC, on account of lower volume and low discretionary spending. We believe it is encouraging that despite multiple revenue guidance cuts, it has maintained its margin targets. We expect FY24 revenue growth at 2.4% CC, near the upper band of its guidance. Despite near-term weakness, we expect Infosys to be a key beneficiary of the acceleration in IT spends in the medium term. Based on our revised estimates, the stock is currently trading at 21x FY25E EPS. We value the stock at 24x FY25E EPS, implying a Target Price of Rs 1,660.”

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Choice broking: ADD – Target Price: Rs 1,655 

“Significant large deal wins lay a robust foundation for the company’s future growth. The increasing adoption of the Generative AI solution, Topaz, is playing a crucial role in delivering consistent value and expanding market presence. Major deal wins and focus on cost optimization boosts confidence in the long-term growth prospects. We have introduced FY26E and expect Revenue/EBIT/PAT to grow at a CAGR of 6.2%/10.1%/9.7% respectively over FY23-FY26E. We maintain our ADD rating with a revised target price of Rs 1,655 implying a PE of 24x (unchanged) on FY26E EPS of Rs 76.9.”