Zacks Investment Research downgraded shares of Infosys Ltd (INFY) from OUTPERFORM to NEUTRAL on April 09, 2014, with a target price of $57.00.
Infosys is a leading provider of business consulting, technology, engineering and outsourcing services worldwide. We are maintaining our Neutral recommendation on the stock. 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. Meanwhile, during the quarter, Infosys had strong client wins, especially Fortune 500 companies. In addition, the company's big data and cloud offering are also gaining strong momentum. Furthermore, after witnessing consecutive declines in margins for the past six quarters, the company finally reported margin growth. INFY also increased its revenue guidance for fiscal 2014.
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