Infosys Technologies (INFY) PT Lowered to $17 at Stifel

Stifel analyst David M. Grossman lowered the price target on Infosys Technologies (NYSE: INFY) to $17.00 (from $18.00) while maintaining a Hold rating.

The analyst commented, “INFY reported below consensus F4Q revenue and in-line EPS BMO Thursday 4/17. Large deal bookings flattish with recent trend and down y/y against a difficult compare.Vertical commentary consistent with other Tier 1 peers-- weak manufacturing (particularly auto), consumer and tech with relative strength in financial servicesManagement initiated FY26 cc revenue growth guidance (+0-3%) well below consensus (+8.5%) and closer to our recently revised estimate (+3.5%). The midpoint of margin guidance (21%, flattish y/y) was in-line with our estimate but below consensus. Guidance fairly consistent with recent commentary from peers (ACN, TCS, WIT)INFY traded down only ~2%, which suggests market had anticipated fairly significant downward revisions. Remainder of group trading flattish, which may suggest market already discounting flattish industry growth/margins in 2025.While difficult to call a bottom in this environment we are encouraged by the market's response and continue to favor EPAM (Buy, $147.16) for those thinking longer-term.”

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