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Infosys 'turning the corner' - JPMorgan

Source : REUTERS
Last Updated: Mon, Feb 25, 2013 11:09 hrs
Employees of Indian software company Infosys walk past Infosys logos at their campus in the Electronic City area in Bangalore

J.P.Morgan raises its target price on Infosys Ltd to 3,200 rupees from 3,100 rupees while maintaining its "buy" rating.

The brokerage says 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.

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 2,917.00 rupees.




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