Infy Rating
JPMORGAN ON INFOSYS : 26.05.2021
• Maintain overweight, target at Rs 1,740/share
* Hosted Infosys CEO Salil Parekh at 49th J.P. Morgan Global TMC Conference
• No material impact on delivery from India's second Covid wave
* Attrition is not a concern area as it is being offset by graduate & lateral hiring
• Deal win momentum and pipeline continue to remain strong
* See Large deal wins driven by digital capabilities rather than pricing Offshore mix can sustain as clients are comfortable and this can help margins
* There is optimism on medium term growth outlook led by increased TAM
* FY22 revenue guide of 12-14% CC growth and margin guide of 22-24% inta remain intact
Infy Rating
