Zacks Investment Research upgraded shares of Infosys Ltd (INFY) from NEUTRAL to OUTPERFORM on January 17, 2014, with a target price of $73.00.
Infosys is a leading provider of business consulting, technology, engineering and outsourcing services worldwide. We have upgraded our recommendation on Infosys to Outperform from Neutral. Profits during the reported quarter were driven by the company's differentiating strategy to capture potential opportunities and the strategic organizational changes. Further, the company has signed new deals that are expected to drive profits going forward. This apart, during the quarter, Infosys had strong client wins, especially the Fortune 500 companies. In addition, the company's big data and cloud offering are also gaining strong momentum. Furthermore, after witnessing a consecutive decline in margins for approximately past six quarter, during the reported the company reported margin growth. The company has increased its revenue guidance for fiscal 2014.
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