Thursday 6 November 2008

Expect 18-20% upside in Infosys: R Shah

Rajen Shah of Angel Broking is of the view that one can expect 18-20% upside in Infosys Technologies over the next 12 months.

Shah told CNBC-TV18, "I don’t think there will be any major impact on IT companies. The banking and financial industry there has been hit in the US and obviously volumes are going to decline a bit and even the pricing power, which this industry enjoyed for a long time that’s going to be under pressure. But more or less that has been factored into the stock price of Infosys. It's currently quoting at just about 12 times March’10 earnings. So I think Infosys has never over the past 8 years traded so cheaply, so I don’t see any much downside in Infosys from the current levels. I do see upsides of about 18% or 20% over the next 12 months and that’s a bear minimum I expect from Infosys."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source: Moneycontrol

Posted by Harsh at 08:03

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