Jefferies Upgrades Infosys Technologies (INFY) to Buy

July 2, 2012 9:00 AM EDT
Get Alerts INFY Hot Sheet
Price: $14.43 -0.48%

Rating Summary:
    10 Buy, 14 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 9
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Jefferies upgraded Infosys Technologies (NASDAQ: INFY) from Hold to Buy.

The firm comments, "We have been cautious on the sector for a while and are now taking a more constructive approach. In light of the choppy macro, an immediate pick up is unlikely. However, this time issues are more sovereign in nature and corporates are unlikely to delay their spends indefinitely. We are upgrading Infosys to a Buy as the stock has underperformed the market and the valuations/expectations are now reasonable."

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 $45.06 yesterday.

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