Jefferies analyst Akshat Agarwal downgraded Infosys (INFY) to Hold from Buy with a price target of $14.31, down from $20.82. The firm says AI may “structurally change” the IT business mix towards consulting and implementation while shrinking managed services. This would increase cyclicality and require a change operating model, adding risk, the analyst tells investors in a research note. Jefferies sees further downside in India computer services and IT consulting group.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on INFY:
- Infosys: Well-Positioned for Enterprise AI Upside and Earnings Resilience, Justifying a Buy Rating
- Infosys price target lowered to $17 from $19 at Stifel
- Infosys enter Ai solutions collaboration with Anthropic
- Shares of Indian Tech Giant Infosys (INFY) Soar on AI Collaboration with Anthropic
- Infosys put volume heavy and directionally bearish