UPDATE: Bernstein Upgrades Infosys Ltd. (INFO:IN) (INFY) to Outperform
- Wall Street ends week positively; S&P 500, Dow hit record highs
- Bitcoin (BTC) Drops 3% as Turkey Bans Cryptocurrency Payments Citing Lack of Regulatory Supervision
- Morgan Stanley (MS) Archegos-Related Loss Appears to be $911M
- Dollar at 4-week low on retreating Treasury yields
- J&J (JNJ) Privately Asked Rival Covid-19 Vaccine Makers to Inspect Clotting Risks, AstraZeneca (AZN) Said Yes but Pfizer (PFE) and Moderna (MRNA) Declined - Report
Bernstein analyst Rahul Malhotra upgraded Infosys Ltd. (INFO:IN) (NYSE: INFY) from Market Perform to Outperform with a price target of INR1,630.00 (from INR1,520.00).
The analyst comments "Infosys has had strong deals wins providing good revenue visibility. Infosys signed two large deals in H2 2020. Estimated size of these deals - 1) Vanguard – US$1.5Bn TCV signed in July 2020 and 2) Daimler – US$3.2Bn TCV signed in December 2020. Net new deals have been strong in 9MFY21 (up~250% yoy). We believe there is an extraordinarily high barrier to sign large deals. Only six-eight players have the ability to compete and win. Enterprises today demand integrated digital solutions at a global scale with a cloud foundation. Extraordinary scale and capabilities are required to deliver services in this complex enterprise IT setting."
You May Also Be Interested In
- Siemens AG (SIE:GR) (SIEGY) PT Raised to EUR170 at Jefferies
- Industrial Bank of Korea (024110:KS) PT Raised to KRW10,000 at Morgan Stanley
- KB Financial Group (105560:KS) (KB) PT Raised to KRW67,500 at Morgan Stanley
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Comments, Hot Upgrades, Intl Ratings, Upgrades
Related EntitiesSanford C. Bernstein, Vanguard
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!