Brocking house views on Infosys

Angel Broking on Infosys - Target of Rs 1713

Angel Broking has maintained its buy rating on Infosys Technologies with a revised 12-month target price of Rs 1,713 in its October 10, 2008 research report. "Infosys recorded a strong 11.6% qoq and 32.0% yoy growth in Top-line for 2QFY2009. We maintain a Buy on the stock, with a revised 12-month Target Price of Rs 1,713 (Rs 2,124). However, given the cautious business environment, near-term stock performance is likely to be muted. Nonetheless, the stock remains our Top Pick in the sector," says Angel Broking's research report.

Karvy Stock Broking on Infosys - Target of Rs 2000

Karvy Stock Broking has maintained its buy rating on Infosys Technologies with a target of Rs 2000 in its October 14, 2008 research report. "Infosys reported better than expected, Q2 results with revenues and profits growing sequentially by 11.6% and 10% respectively. We for FY09 and FY10 expect the company to grow its INR earnings by 26% (to Rs 102.7) and 22% (to Rs 125.1) respectively, with valuations looking very attractive. At the current price it is trading at 11xF10E, with ROCE at 40% plus levels, despite 53% of the balance sheet in cash. We continue with our BUY rating with a price target of Rs 2000," says Karvy Stock Broking's research report.