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Infosys Technologies (INFY.BO)
Research Tactical Idea
We believe the share price will rise relative to the country index over the next 60 days.
This is because the stock has traded off recently, making short term valuation much more compelling. Positive
commentary from peers like Wipro and TCS coupled with positive results from Accenture and Oracle support the demand
environment in the sector, in our view. Our FY12e/13e EPS estimates for Infosys are 6%-10% higher than consensus and
we believe Street EPS will be revised upwards as Infosys’ volumes and pricing trends surprise positively in the coming
quarters. We expect strong absolute and relative returns in Infosys stock in 2HCY11.
We estimate that there is about an 80%+ or "highly likely" probability for the scenario.
Estimated probabilities are illustrative and assigned subjectively based on our assessment of the likelihood of the
scenario.
Stock Rating: Overweight
Industry View: In-Line
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Infosys Technologies (INFY.BO)
Research Tactical Idea
We believe the share price will rise relative to the country index over the next 60 days.
This is because the stock has traded off recently, making short term valuation much more compelling. Positive
commentary from peers like Wipro and TCS coupled with positive results from Accenture and Oracle support the demand
environment in the sector, in our view. Our FY12e/13e EPS estimates for Infosys are 6%-10% higher than consensus and
we believe Street EPS will be revised upwards as Infosys’ volumes and pricing trends surprise positively in the coming
quarters. We expect strong absolute and relative returns in Infosys stock in 2HCY11.
We estimate that there is about an 80%+ or "highly likely" probability for the scenario.
Estimated probabilities are illustrative and assigned subjectively based on our assessment of the likelihood of the
scenario.
Stock Rating: Overweight
Industry View: In-Line
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