Infosys Technologies Ltd Upgraded to “Buy” by BNP Paribas (INFY)
Infosys Technologies Ltd (NASDAQ:INFY) was upgraded by equities researchers at BNP Paribas from a “hold” rating to a “buy” rating in a research report issued on Monday, TheFlyOnTheWall.com reports.
Shares of Infosys Technologies Ltd (NASDAQ:INFY) traded down 0.18% on Monday, hitting $49.31. 210,937 shares of the company’s stock traded hands. Infosys Technologies Ltd has a 1-year low of $38.91 and a 1-year high of $55.71. The stock has a 50-day moving average of $47.82 and a 200-day moving average of $46.0. The company has a market cap of $28.176 billion and a P/E ratio of 16.36.
Infosys Technologies Ltd (NASDAQ:INFY) last announced its earnings results on Friday, July 12th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 23.5% on a year-over-year basis.
A number of other analysts have also recently weighed in on INFY. Analysts at Robert W. Baird upgraded shares of Infosys Technologies Ltd from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, September 25th. They now have a $58.00 price target on the stock, up previously from $46.00. They noted that the move was a valuation call. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Infosys Technologies Ltd in a research note to investors on Tuesday, September 3rd. They now have a $49.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Infosys Technologies Ltd 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $50.60.
Infosys Limited (NASDAQ:INFY), formerly Infosys Technologies Limited, provides business consulting, technology, engineering and outsourcing services.
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