Nomura has maintained its ‘Buy’ rating on Infosys, with a target price of Rs 2,130. While the company’s Q2 FY25 performance was a mixed bag, with a beat in revenue but a modest miss on margins, Nomura reiterated Infosys as a top pick. The brokerage noted that the company’s latest guidance lift for FY25 reinforces its positive long-term outlook, despite the continued impact of Project Maximus on margins. EPS estimates for FY25-27 have been adjusted by less than 1%.
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