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Fly News Breaks for September 16, 2019
INFY
Sep 16, 2019 | 06:16 EDT
UBS analyst Diviya Nagarajan downgraded Infosys to Neutral, but raised his price target to INR900 from INR850. The analyst notes that the stock price has rallied by 28% year to date while its multiple is now over two standard deviation intervals above its 5-year average. Nagarajan further warns that the looming demand concerns put sector valuations at risk, and he is "unwilling to argue" for a higher earnings multiple for Infosys at these levels.
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