Analysts hail Infosys' Singapore road show for Asia investors

MUMBAI: Infosys’ recent road show at Singapore for Asia investors received a good response according to analysts. These investors appreciate the changes made by the current management on various front to achieve the revenue growth guidance. Some analysts even raise Infosys FY17 EPS by almost 4 per cent post road show. Infosys shares gained 2 per cent on Tuesday to end at Rs 1163.80.

“We remain positive on Infosys after investor meetings as the company is speeding up its decision making process, intensifying its plans around its largest clients, is investing in employee stability and bringing about a “design thinking” culture across employee levels in a bid to achieve its 10-12 per cent FY 2016 revenue growth guidance and industry-leading growth target by FY17,” said Abhiram Eleswarapu, analyst, BNP Paribas

Even though Infosys stock has outperformed TCS by more than 30 per cent in the past 12 months, analysts still bullish on the stock. Out of 63 analysts who tracks Infosys, 46 analysts have a buy rating with a consensus rating of 4.17 (on a scale of 1 to 5).

“Management is confident that they can achieve the full year revenue growth guidance of 10-12 per cent YoY” said Yogesh Aggarwal, analyst, HSBC Securities. “We estimate FY16 USD revenue growth of 8 per cent with risks skewed to the upside”.