Outperform Infosys, target Rs 1200: CLSA

CLSA has outperform call on Infosys Ltd. with a target price of Rs 1200.The current market price of Infosys Ltd. is Rs 1080.3. Time period given by analyst is year, when Infosys Ltd. price can reach defined target. There was a big revenue miss, and the guidance remains challenging despite a cut. The ask rate to meet guidance remains challenging at 2.9-3.8% CQGR, said the CLSA note. The global brokerage firm slashed its dollar growth by 3 per cent in FY17 and FY17-19 EBIT margin by 50bps. The PE re-rating was largely in line with leaders TCS and Accenture will have to wait.