Infosys price target lowered to $18 from $25 at BMO Capital

BMO Capital lowered the firm’s price target on Infosys (INFY) to $18 from $25 and keeps a Market Perform rating on the shares. The company’s Q4 results, guidance, and management commentary on the spend environment reflects the firm’s prior assessment that a weakening economic environment will have a negative impact on IT services growth/demand given that services growth is correlated to global GDP trends, the analyst tells investors in a research note.