In a report released today, Bryan Bergin from TD Cowen maintained a Hold rating on Infosys, with a price target of $18.00.
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Bryan Bergin’s rating is based on a combination of factors including Infosys’s stable performance amidst sector volatility and its ability to manage controllable aspects effectively. Despite a challenging demand environment, Infosys exceeded expectations with its growth figures and healthy deal bookings, which contributed to a better-than-anticipated financial print.
However, the Hold rating reflects concerns over the potential for top-line growth recovery in the absence of significant demand recovery signs. The valuation of Infosys shares remains fair, aligning with its historical averages, but the potential for significant near-term growth appears limited. Consequently, Bergin maintains a cautious outlook, suggesting that the stock is likely to remain range-bound in the near term.
Bergin covers the Technology sector, focusing on stocks such as Genpact, Accenture, and Exlservice Holdings. According to TipRanks, Bergin has an average return of 2.3% and a 49.58% success rate on recommended stocks.