Infosys Q3 Results: Jefferies retains Buy call on the stock, target price at Rs 2,250

Jefferies has reiterated its Buy rating on Infosys with a target price of ₹2,250, noting that the Q3 results beat expectations, with strong revenue growth being the standout positive. Infosys raised its FY25 revenue guidance to 4.5–5% following the Q3 beat, though the Q4 ask rate remains unchanged.

Jefferies highlighted the strong deal wins and improving discretionary spending environment as key growth drivers. It has raised its estimates by 2–3% and expects Infosys to deliver an 11% EPS CAGR over FY25–27.

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Infosys Q3FY25 Performance:

  • Net Profit: ₹6,806 crore (+4.6% QoQ)
  • Revenue: ₹41,764 crore (+2% QoQ)
  • EBIT: ₹8,912 crore (+3% QoQ), Margin: 21.3% vs. 21.1% QoQ
  • FY25 revenue guidance raised to 4.5–5% from 3.75–4.5%.