Deutsche Bank Starts Infosys Technologies (INFY) at Buy

Deutsche Bank initiates coverage on Infosys Technologies (NYSE: INFY) with a Buy rating.

Analyst Srinivas Rao commented, "Enterprise IT spends are transforming at a rapid pace – moving to cloud, adopting ‘as-service’ models and focussing on revenue outcomes. For a detailed discussion on key sector trends, refer to our report, India IT services: Skills (not scale) to drive the next leg of growth. We believe that under its new CEO, INFY is aiming to defend its wallet-share, reinvesting aggressively to build its Digital stack in order to manage the impact of this transformation. With corporate governance issues largely resolved, improving visibility should drive stock performance. We forecast a 3-yr Rev/EPS CAGR (FY18-21) of 9.5%/6.7%; Buy (TP Rs 1,495)."

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 $19.76 yesterday.

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