Needham & Company Maintains a 'Hold' on Infosys Technologies (INFY); Q1 Preview - Possible Upside to FY13
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Price: $12.09 -2.58%
Rating Summary:
10 Buy, 18 Hold, 4 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
10 Buy, 18 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on Infosys Technologies (NASDAQ: INFY).
Analyst, Mayank Tandon, said, "Infosys will report 1Q FY13 results on Wednesday night (7/11)..We are modeling flat Q/Q revenue growth to $1.771 billion, in line with guidance ($1.771-1.789 billion or 0-1% Q/Q growth) and above consensus ($1.755 billion). We believe revenue could come in below our estimate and guidance based on the strength of the dollar against the pound and the euro, which we estimate could result in about a 50 bps drag on revenue growth. We also believe volume growth could be weak as the macro, especially Europe (22% of revenue), deteriorated over the course of the June quarter, putting incremental pressure on discretionary spending...As such we see upside to our 1Q FY13 EPS estimate of $0.73, which is in line with guidance but $0.02 below consensus. Based on the current rupee-dollar rate, we believe management could raise full year EPS guidance from the current range of $3.12-3.17, even while it lowers the revenue outlook."
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 $43.52 yesterday.
Analyst, Mayank Tandon, said, "Infosys will report 1Q FY13 results on Wednesday night (7/11)..We are modeling flat Q/Q revenue growth to $1.771 billion, in line with guidance ($1.771-1.789 billion or 0-1% Q/Q growth) and above consensus ($1.755 billion). We believe revenue could come in below our estimate and guidance based on the strength of the dollar against the pound and the euro, which we estimate could result in about a 50 bps drag on revenue growth. We also believe volume growth could be weak as the macro, especially Europe (22% of revenue), deteriorated over the course of the June quarter, putting incremental pressure on discretionary spending...As such we see upside to our 1Q FY13 EPS estimate of $0.73, which is in line with guidance but $0.02 below consensus. Based on the current rupee-dollar rate, we believe management could raise full year EPS guidance from the current range of $3.12-3.17, even while it lowers the revenue outlook."
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 $43.52 yesterday.
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