Thursday, March 7, 2013

Morgan Stanley overweight on Infosys: Target 3300

Infosys, the second largest software exporter of India, has been doing quite well post it's second quarter result and has seen series of upgrades for the stock. InvestorZclub also recommended the stock in it's post "Contrarian Stocks to Buy in 2013". The stock has run up more than 30% since the recommendation was made at a price of 2300. 

In spite of the huge run up in Infosys stock since past couple of months, Morgan Stanley is still bullish and expects the price to further rise to 3300. It says "While the external environment has not changed materially, the internal operating environment at Infosys has improved significantly". 

As on 7th March 2013 the stock has surpassed Rs 3000 level for the first time since July 2011 to hit a new 52-week high of Rs 3,007 on Bombay Stock Exchange.

1 comment:

  1. Infosys is always my first choice during market correction.I think we should wait for more correction.


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