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Investing.com - Jefferies raised its price target on Infosys (NSE:INFY) Ltd. (NYSE:INFY) to INR1,860 from INR1,660 while maintaining a Buy rating following the company’s first-quarter results.
The Indian IT services company reported quarterly revenue growth of 2.6% quarter-over-quarter in constant currency terms, exceeding analyst estimates. Large deal wins totaling US$3.8 billion were highlighted as a key positive surprise in the quarter.
Infosys has revised its fiscal year 2026 growth guidance by raising the lower end of its forecast by 100 basis points to a range of 1-3% year-over-year in constant currency terms. Jefferies characterized this updated guidance as conservative given the company’s strong deal wins.
Jefferies increased its earnings estimates for Infosys by approximately 3% and projects the company will deliver a 9% earnings per share compound annual growth rate over fiscal years 2026-2028.
The new price target of INR1,860 is based on a price-to-earnings multiple of 24x, with Jefferies citing an attractive risk-reward profile as the basis for reiterating its Buy rating on the stock.
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