ICICI Direct recommends Infosys as Strong Buy

Learn Money making Strategies used by Professionals

ICICI Direct has adjusted their FY12E and introduced FY13E estimates. Their estimates assume 18%/13.5% CAGR rupee revenue/EPS growth during FY10-FY13E. They have valued Infosys at 20.9x its FY13E EPS of 160, a discount relative to its historical one year average forward PE of 22x, to account for the longer time horizon. Consequently, they have changed their rating to STRONG BUY with a 12 month target price of | 3350 per share.

No comments:

Post a Comment

Do you like my blog?

If you enjoy reading InvestorZclub blog, please help spread the word by sharing this site with your friends.