BMO Capital has raised its target price for Infosys Ltd (NYSE: INFY) to $20 from $18, while maintaining a “Market Perform” rating. The revision reflects confidence in Infosys’ steady quarterly performance, resilient demand for IT services, and its ability to navigate global spending challenges with a diversified portfolio.
Infosys Ltd, one of India’s largest IT services providers, received a positive revision from BMO Capital Markets. The brokerage increased its target price to $20, citing stable growth and improved visibility in digital transformation projects. The move underscores cautious optimism for Infosys amid mixed global IT demand trends.
Key Highlights:
- BMO Capital raised the target price by 11.11%, from $18 to $20.
- Infosys reported steady revenue growth in recent quarters, supported by strong client demand.
- The “Market Perform” rating remains unchanged, signaling balanced expectations in a competitive IT services market.
- Infosys continues to expand through digital transformation initiatives and selective acquisitions.
- The company’s diversified portfolio provides resilience against global spending uncertainties.
Sources: Reuters, The Economic Times, Mint, Moneycontrol