Bank of America (BoFA) has reiterated its ‘Buy’ rating on Infosys, setting a target price of ₹2,150, representing a potential upside of 12% from the current market price of ₹1,920.05. The brokerage anticipates a sequential revenue decline of 1% for Q4FY25, attributing it to a possible reduction in third-party items or a conservative stance by the company.
BoFA highlighted that discretionary spending is showing early signs of recovery in European BFSI and US retail/CPG segments, while spending for high-tech and communications segments remains steady. The company has planned annual wage hikes in India at 6–8%, aligning with market expectations.
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