Infosys Technologies Ltd Stock Rating Upgraded by Jefferies & Co. (INFY)

Posted by: Karim Khaledi Posted date: March 16, 2013 In: Analyst Articles - US, Investing

Infosys Technologies Ltd (NASDAQ: INFY) was upgraded by Jefferies & Co. from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm currently has a $59.00 price target on the stock, down from their previous price target of $64.00.

Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group upgraded shares of Infosys Technologies Ltd from a “hold” rating to a “buy” rating in a research note to investors on Friday. They now have a $59.00 price target on the stock, down previously from $64.00. Separately, analysts at TheStreet upgraded shares of Infosys Technologies Ltd from a “hold” rating to a “buy” rating in a research note to investors on Monday, January 28th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Infosys Technologies Ltd in a research note to investors on Friday, January 25th. They now have a $55.00 price target on the stock.

Shares of Infosys Technologies Ltd (NASDAQ: INFY) traded up 0.68% during mid-day trading on Friday, hitting $53.62. Infosys Technologies Ltd has a 52 week low of $37.93 and a 52 week high of $59.13. The stock’s 50-day moving average is currently $52.97. The company has a market cap of $30.639 billion and a P/E ratio of 17.46.

Infosys Technologies Ltd (NASDAQ: INFY) last released its earnings data on Friday, January 11th. The company reported $0.76 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.72 by $0.04. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. Analysts expect that Infosys Technologies Ltd will post $2.99 EPS for the current fiscal year.

Infosys Limited (Infosys), formerly Infosys Technologies Limited, provides business consulting, technology, engineering and outsourcing services.

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