Infosys shares gain 1.7 pct. CLSA raises target to 2,800 rupees from 2,500 rupees...
Infosys shares gain 1.7 pct.
CLSA raises target to 2,800 rupees from 2,500 rupees and reiterates high-conviction “buy” rating.
Says Infosys should see stronger revenue growth in FY16/17 as it gains leadership in digital and traditional services while improving client mining.
“We expect it to offer more attractive returns for shareholders through a higher dividend-payout ratio (at least 40 pct) and opportunistic buybacks,” CLSA says.
Also expects greater M&A activity to strengthen its position in social, mobile, analytics and cloud services.