Infosys Technologies (INFY) PT Raised to $21 at Cowen

Cowen analyst Bryan Bergin raised the price target on Infosys Technologies (NYSE: INFY) to $21.00 (from $19.00) while maintaining a Market Perform rating.

The analyst comments "Broad-based momentum & the timing of large deal signings supported a 200 bps raise to INFY's FY22 growth outlook. From 2Q forward, INFY benefits from the ramping of FY21 large deals, although the likely magnitude of beat & raise outperformance is apt to be more difficult. Double-digit growth through FY22 on strengthened services demand and good execution supports its current premium. PT $21."

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