Infosys shares edge up nearly 2% as Citi increase target price to Rs 2035

Infosys shares witnessed a nearly 2% rise today, trading at ₹1,917.10, following Citi’s revised ratings and target prices for major IT sector stocks. The updates reflect analysts’ adjustments based on sector performance, investor expectations, and individual company trajectories.

 

Highlights of Citi’s Updated IT Sector Ratings and Targets:

1. Infosys:
   • Maintained Neutral rating.
   • Target price increased to ₹2,035 from ₹1,965, signaling positive momentum for the stock.
2. Persistent Systems:
   • Retained Sell rating.
   • Target price raised significantly to ₹4,840 from ₹4,220.
3. Wipro:
   • Maintained Sell stance.
   • Target price increased to ₹280 from ₹250.
4. TCS (Tata Consultancy Services):
   • Continued with a Sell rating.
   • Target price slightly adjusted to ₹3,950 from ₹3,935.
5. HCL Tech:
   • Maintained Neutral rating.
   • Target price raised to ₹1,915 from ₹1,815.
6. Coforge:
   • Retained Sell rating.
   • Target price increased from ₹6,720 to ₹7,790.
7. LTIMindtree:
   • Sell rating reaffirmed.
   • Target price revised down to ₹5,460 from ₹5,710.
8. Mphasis:
   • Continued Sell rating.
   • Target price marginally adjusted to ₹2,720 from ₹2,725.
9. LTTS (L&T Technology Services):
   • Sell recommendation upheld.
   • Target price reduced to ₹4,500 from ₹4,860.
10. Tata Tech:
    • Retained Sell stance.
    • Target price revised downward to ₹836 from ₹900.

Market Outlook:
Citi’s updated outlook for the IT sector suggests a mixed view, with companies like Infosys gaining slight optimism in target price revisions, while others like TCS, Wipro, and Persistent Systems maintain Sell ratings due to anticipated market dynamics.