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Fly News Breaks for October 21, 2019
INFY
Oct 21, 2019 | 10:35 EDT
Baird analyst David Koning noted that Infosys disclosed an anonymous whistleblower complaint alleging unethical accounting practices, adding that situations such as this "are tough to assess." While he sees the risk/reward as "balanced" amid the 11% pullback in the stock this morning, he views the stock's valuation "becoming more interesting" if the whistleblower complaint ends up being immaterial. Koning lowered his price target on Infosys shares to $10 from $12 and keeps a Neutral rating on the shares.
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