Deutsche retains hold rating on Infy

MUMBAI: Deutsche Bank has retained a hold rating on Infosys with a price target of Rs1,155 after the company’s December quarter results. At 1:45 PM on Thursday, the stock was up 6.1% at Rs1148.

“Infosys’ Dec-Q results beat our and street estimates,” said Deutsche’s analyst Aniruddha Bhosale in a note after the result announcement on Thursday. “We however, believe that at 18 times FY17E (estimated earnings), the stock is fairly priced,” he said.

The BSE’s information technology index was up 3.2%, while the Sensex was up 0.4%, rebounding from the day’s lows.