Infosys shares see target price cuts from brokerages after Q4 results disappoint Street; here's why

Infosys share price target, Infosys Q4 results: Should you buy, sell, or hold Infosys shares? Global brokerages have trimmed share price targets of Infosys, the Bengaluru-headquartered IT services provider after the IT major's Q4FY24 earnings report, unveiled on Thursday, April 18 and weak revenue guidance failed to impress D-Street with revenue for the January-March quarter declining 2.1 per cent sequentially. The consolidated net profit at the concern came higher than the Street estimates at Rs 7,969 crore, registering 30.5 per cent growth. Read more on Infosys Q4 results 

Should you buy, sell, or hold Infosys shares? Here's what brokerages suggest: 

-CLSA has maintained an outperform call, however, the brokerage has slashed the target by Rs 153 to Rs 1,553 from Rs 1,706 earlier. 

-Jefferies maintained a buy call but has cut the target to Rs 1,630 from Rs 1,740. According to its report, after missed Q4 estimates, strong deal wins provide comfort on Jefferies' expectation of 9 per cent EPS CAGR over FY24-27E. 

-JPMorgan has retained an overweight rating on the counter and has reduced the target by Rs 100 to Rs 1,700 per equity share. According to JPMorgan, while headline remains unimpressive, cost-take-out signings, cyclical recovery credentials & Div/Buyback yield support remain strong

-Morgan Stanley has continued an overweight rating with a target of Rs 1,750.

-Goldman Sachs has maintained a buy call, although has cut the target to Rs 1,650 from Rs 1,710.

-Citi has maintained a neutral rating with a reduced target of Rs 1,550 from Rs 1,660 earlier. The brokerage recommends buying at dips (Rs1,350 levels). 

-Nomura has continued a neutral rating with a slashed target cut to Rs 1,400 from Rs 1,500. According to Nomura, weaker-than-expected guidance for FY25F, there are no signs of discretionary demand revival. The brokerage has lowered its FY25-26F EPS by 2-3 per cent. 

-Macquarie has maintained an underperform with a target of Rs 1,160. 

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