Infosys Technologies Ltd (NASDAQ:INFY) was upgraded by research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report released on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $58.00 price target on the stock, up from their previous price target of $46.00. Robert W. Baird’s price objective indicates a potential upside of 19.32% from the stock’s previous close. The analysts noted that the move was a valuation call.
Shares of Infosys Technologies Ltd (NASDAQ:INFY) traded up 1.19% on Wednesday, hitting $49.19. The stock had a trading volume of 515,647 shares. Infosys Technologies Ltd has a one year low of $38.91 and a one year high of $55.71. The stock has a 50-day moving average of $47.97 and a 200-day moving average of $46.16. The company has a market cap of $28.107 billion and a price-to-earnings ratio of 16.10.
Infosys Technologies Ltd (NASDAQ:INFY) last issued its quarterly earnings data on Friday, July 12th. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.70 by $0.03. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. The company’s quarterly revenue was up 23.5% on a year-over-year basis. On average, analysts predict that Infosys Technologies Ltd will post $2.92 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on INFY. Analysts at Zacks reiterated a “neutral” rating on shares of Infosys Technologies Ltd (NASDAQ:INFY) in a research note to investors on Tuesday, September 3rd. They now have a $49.00 price target on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Infosys Technologies Ltd (NASDAQ:INFY) in a research note to investors on Thursday, August 29th. They now have a $58.00 price target on the stock, up previously from $57.00. Finally, analysts at Macquarie upgraded shares of Infosys Technologies Ltd (NASDAQ:INFY) from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, August 29th.
One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $50.60.
Infosys Limited (NASDAQ:INFY), formerly Infosys Technologies Limited, provides business consulting, technology, engineering and outsourcing services.
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