Jefferies Group reissued their buy rating on shares of Infosys Technologies Ltd (NASDAQ: INFY) in a research report released on Friday morning, AnalystRatingsNetwork.com reports. Jefferies Group currently has a $57.00 price objective on the stock, up from their previous price objective of $51.00.
“Infosys’ 1Q was a positive surprise on revenue, margins and guidance, reflected in the stock as well. Given the volatile macro, it was a surprise that the discretionary services did well this quarter, while the bread-and-butter part was steady. With large deal wins continuing (seven in 1Q), we are positive on volume growth and the resultant operating leverage. Remain positive with a medium-term view as the demand cycle turns in favour.,” the firm’s analyst wrote.
Jefferies Group has also taken action a number of other information technology stocks recently. The firm reiterated its hold rating on shares of Vodafone. They have a $179.00 price target on that stock. Also, Jefferies Group downgraded shares of Avago Technologies Limited from a buy rating to a hold rating. Finally, Jefferies Group reiterated its hold rating on shares of Altera Co.. They have a $34.00 price target on that stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at Nomura reiterated a reduce rating on shares of Infosys Technologies Ltd in a research note to investors on Friday, June 28th. Separately, analysts at Societe Generale initiated coverage on shares of Infosys Technologies Ltd in a research note to investors on Friday, June 28th. They set a hold rating on the stock. Finally, analysts at Bank of America Corp. reiterated a buy rating on shares of Infosys Technologies Ltd in a research note to investors on Wednesday, June 26th. They now have a $53.00 price target on the stock.
Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Infosys Technologies Ltd currently has an average rating of Hold and a consensus price target of $47.36.
Infosys Technologies Ltd (NASDAQ: INFY) traded up 0.15% on Friday, hitting $46.37. Infosys Technologies Ltd has a 1-year low of $37.93 and a 1-year high of $55.71. The stock’s 50-day moving average is currently $41.97. The company has a market cap of $26.496 billion and a price-to-earnings ratio of 15.33.
Infosys Limited (NASDAQ: INFY), formerly Infosys Technologies Limited, provides business consulting, technology, engineering and outsourcing services.
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