Goldman Sachs has reiterated its ‘Buy’ rating on Infosys but reduced the target price to ₹1,790 from ₹2,100, citing a downgrade in FY26 revenue expectations due to persistent macro headwinds in the U.S.
The firm continues to see Infosys as a structurally strong play within the Indian IT space, benefiting from its digital transformation focus and execution capabilities. However, near-term revenue growth challenges and delays in discretionary spends are likely to weigh on performance.
Goldman has trimmed its EPS estimates by 2–4% and expects the company’s growth in constant currency to be in the range of 4-6% in FY26, a modest improvement over FY25, but still well below historical trends.
