JP Morgan maintains 'buy' rating; says co 'turning the corner'

JPMorgan raised its target price on Infosys to Rs 3,200 from Rs 3,100 while maintaining its “buy” rating.

The brokerage said Infosys “is likely turning the corner”, given the Indian software services exporter is proving more flexible in winning deals, embracing “a more realistic” margin profile and trying to re-engage with employees.

[caption id=“attachment_638831” align=“alignleft” width=“380”] Infosys ended up 2.8 percent at Rs 2,917.00. Reuters[/caption]

These developments are coming on the back of an improving demand environment for the sector, the investment bank adds.

Infosys ended up 2.8 percent at Rs 2,917.00.

Reuters