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Fly News Breaks for February 17, 2020
Feb 17, 2020 | 12:53 EDT
Goldman Sachs analyst Sumeet Jain upgraded Infosys to Buy from Neutral with a price target of $13.53, up from $10.09. The shares closed Friday down 9c to $11.01. Infosys has seen revenue growth uptick over the last two years, and its earnings growth should now inflect led by its margin improvement, Jain tells investors in a research note. Further, the analyst expects the company's revenue growth in fiscal 2021 and 2022 to outpace the Indian/Global IT services sector. Strong free cash flow yield and higher earnings growth should help expand Infosys's current multiple, contends Jain.
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