Deutsche Bank Downgrades Infosys Technologies (INFY) to Hold; Guidance Not Representing Industry Outlook

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.

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