Caesars Entertainment misses Q2 earnings expectations, shares edge lower
Investing.com - Jefferies has upgraded Mphasis Ltd. (MPHL:IN) from Hold to Buy and raised its price target to INR3,100.00 from INR2,360.00, representing a significant increase in the firm’s outlook for the IT services company.
The upgrade follows Mphasis’ first-quarter results, which Jefferies noted were in-line with estimates, while highlighting strong deal bookings as a key positive surprise in the quarterly performance.
Jefferies cited several factors supporting the more bullish stance, including Mphasis’ strong deal wins, high exposure to the BFSI (Banking, Financial Services and Insurance) vertical where spending is increasing, and the resolution of a previous concern in the company’s Logistics vertical.
The investment firm has raised its FY26-28 revenue and EPS estimates for Mphasis by 1-2% and now expects approximately 12% EPS CAGR over the FY26-28 period.
The new price target of INR3,100 is based on a 27x PE multiple, according to Jefferies, which has rolled forward its valuation model.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.