Wedbush Starts Infosys Technologies (INFY) at Neutral
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Wedbush initiates coverage on Infosys Technologies (NYSE: INFY) with a Neutral rating and a price target of $18.00.
Analyst Moshe Katri commented, "We are initiating coverage with a NEUTRAL rating and $18 price target. While we commend the new management team's recent initiatives undertaken to accelerate the top line (or restoring growth to sector levels) and at the same time striving to build a sustainable EBIT margin base, Brexit exposure combined with fair valuation keeps us on the sidelines (for now). INFY's stock currently trades at 17X WS/consensus FY17E adj. EPS."
Shares of Infosys Technologies closed at $16.09 yesterday.
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