Jefferies has maintained its buy rating on Infosys with a target price of ₹1,700 per share, noting that Q2FY26 results were in line with expectations, led by steady sequential growth and strong deal momentum. The brokerage highlighted that Infosys reported 2.2% quarter-on-quarter revenue growth in constant currency and secured large deal wins worth US$3.1 billion during the quarter.
Infosys raised the lower end of its FY26 revenue growth guidance by 100 basis points to 2–3% year-on-year in constant currency, signalling improved confidence in demand stability. However, Jefferies said the revised outlook also suggests a softer second half despite healthy deal flow.
The brokerage expects Infosys to deliver about 6% earnings CAGR over FY26–28, driven by cost efficiencies, strong execution, and margin discipline. It remains positive on the company’s long-term growth trajectory but said the near-term upside is likely to be gradual given ongoing client spending caution.
Disclaimer: The views and recommendations above are those of Jefferies. Business Upturn does not endorse them. Please consult a financial advisor before making investment decisions.