Infosys shares rose 2% in the early trading hours. Despite delivering a weaker-than-expected revenue guidance for FY26, most top brokerages remain bullish on Infosys, with many retaining a Buy rating and target prices in the range of Rs 1,525 – 1,800.
Furthermore, the share price of Infosys reflected the optimism in early trade on Monday, rising over 2% to Rs 1,449 per share.
Let’s take look at why the brokerages still find the tech giant Infosys attractive despite cautious outlook. In fact this has boosted sentiment across the list of Information Technology sector stocks.
Nomura on Infosys: Maintains Buy with a target price of Rs 1,720
The brokerage firm remains optimistic about Infosys and has retained its Buy rating, albeit with a trimmed target price of Rs 1,720 from Rs 1,950 earlier.
As per the brokerage report, the company’s Q4FY25 performance was a “mixed bag”. Revenues dipped 3.5% QoQ in constant currency terms to $4.73 billion, mainly due to reduced third-party pass-through items. EBIT margin stood at 21%, marginally ahead of expectations.
“Two-thirds of the 3.5% QoQ decline was driven by lower pass-through; the rest came from lower volumes,” noted the brokerage house .
Furthermore, Nomura report noted that Infosys’ soft FY26 revenue guidance of 0–3%, which it said reflects macro uncertainties. However, the brokerage continues to see value, citing a robust deal pipeline and transformation opportunities such as ERP modernisation and infra revamps.
Nuvama on Infosys: Maintains Buy with a target price of Rs 1,700
Nuvama also retained its Buy rating with a revised target price of Rs 1,700 down from Rs 1,870, stating that the weak revenue miss was not entirely surprising.**
According to the brokerage firm, the company’s EBIT margin at 21% for Q4 came in better than expected, and management’s guidance reflects confidence in managing through the current environment. Infosys reported TCV of $2.6 billion, a 4.2% QoQ increase.
“Infosys, having corrected 25% CYTD, appears to be an attractive proposition at current levels,” said the brokerage in its report.
HSBC on Infosys: Maintains Buy with a target price of Rs 1,700
The brokerage house HSBC has maintained a Buy rating with a reduced target price of Rs 1,700, pointing out that while the Q4 revenue was a sharp miss, the FY26 guidance seems “optimistic” considering the ongoing macro uncertainty.
“The onus of proof is now on Q1 performance to drive further confidence,” it said.
Despite the cautious tone, HSBC finds value in the stock at current levels.
Jefferies on Infosys: Maintains Buy with a target price of Rs 1,660
Jefferies has reiterated its Buy rating but revised its target price to Rs 1,660 from Rs 1,710, after cutting FY26-27 estimates by 2–3%.
The brokerage flagged the 3.5% QoQ constant currency revenue decline as a key negative surprise in the Q4 print. However, it expects Infosys to deliver a 9% EPS CAGR between FY25 and FY27, supporting its bullish stance.
Bernstein on Infosys: Maintains outperform with a target price of Rs 1,680
Another brokerage house, Bernstein continues to be constructive on Infosys and has kept its Outperform rating, with a target price of Rs 1,680.
According to its report, Infosys’s revised guidance of 0-3% YoY growth in FY26 missed market expectations. But the company retained its margin guidance at 20-22%, indicating cost control measures remain in place.
“The stock is down 25% YTD; remain constructive,” Bernstein added.
JPMorgan on Infosys: Maintains Overweight with a target price of Rs 1,800
The brokerage firm JP Morgan, among the most bullish, has an Overweight rating on Infosys with a target price of Ts 1,800, stating that while revenue missed, margins and EPS beat expectations.
The brokerage sees Infosys’ guidance of 0-3% organic growth as “better than feared”, especially in light of recent macro headwinds and weakness seen in Wipro’s results.