Hold Infosys, target Rs 1080: Deutsche Bank Research

Deutsche Bank Research has a hold call on Infosys Ltd. with a target price of Rs 1080. The current market price of Infosys Ltd. is Rs 1071.85. Time period given by analyst is year, when Infosys Ltd. price can reach defined target. The global brokerage firm slashed Infosys FY17/FY18 earnings estimates by 3.4% and 5.5% respectively. The global brokerage firm is of the view that the revised guidance is not conservative as it demands heavy lifting in 2H. Now, CLSA expects Infosys to deliver 9.5 per cent year-on-year (YoY) USD revenue growth in FY17. The macroeconomic headwinds could drive guidance down further.