Deutsche Bank Downgrades Infosys Technologies (INFY) to Hold; Guidance Not Representing Industry Outlook
Tweet Send to a Friend
Get Alerts INFY Hot Sheet
Price: $43.36 +1.50%
Rating Summary:
5 Buy, 12 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
5 Buy, 12 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade INFY Now!
Deutsche Bank downgraded Infosys Technologies (NASDAQ: INFY) to Hold.
Deutsche analyst said, "Our downgrade is primarily on account of (1) reduced confidence in near-term growth, given multi-client project ramp-downs in the largest vertical (financial services), and (2) the focus on maintaining industry-leading margins limiting long-term growth opportunities. While improvement in the global macroeconomic environment could affect revenue growth positively for FY13E, we believe that investors will expect at least two to three quarters of steady improvement from Infosys before turning positive on the name again."
Prefers Wipro Ltd. (NYSE: WIT) ot Tata Consultancy.
For an analyst ratings summary and ratings history on Infosys Technologies click here. For more ratings news on Infosys Technologies click here.
Shares of Infosys Technologies closed at $49.15 yesterday, with a 52 week range of $46.12-$73.35.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Deutsche analyst said, "Our downgrade is primarily on account of (1) reduced confidence in near-term growth, given multi-client project ramp-downs in the largest vertical (financial services), and (2) the focus on maintaining industry-leading margins limiting long-term growth opportunities. While improvement in the global macroeconomic environment could affect revenue growth positively for FY13E, we believe that investors will expect at least two to three quarters of steady improvement from Infosys before turning positive on the name again."
Prefers Wipro Ltd. (NYSE: WIT) ot Tata Consultancy.
For an analyst ratings summary and ratings history on Infosys Technologies click here. For more ratings news on Infosys Technologies click here.
Shares of Infosys Technologies closed at $49.15 yesterday, with a 52 week range of $46.12-$73.35.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Macquarie Downgrades Barrick Gold (ABX) to Underperform
- Goldman Sachs Downgrades Deere (DE) to Sell, Sees 5% Downside
- Northland Securities Downgrades Cosi Inc. (COSI) to Market Perform
Create E-mail Alert Related Categories
DowngradesRelated Entities
Deutsche Bank
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
