Citi has maintained its ‘Neutral’ rating on Infosys, with a target price of Rs 1,960. The brokerage noted that Infosys reported a decent Q2 FY25, with constant currency revenue growth of 3.1% quarter-on-quarter and flattish margins. While the revenue guidance was raised, Citi highlighted some concerning forward-looking indicators, such as a 7.4% year-on-year decline in large deal total contract value (TCV) and a 3% year-on-year decrease in headcount. The company’s guidance also implies no growth in Q3 and Q4 at the mid-point.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Please seek independent financial advice before making any investment decisions.
