According to MarketBeat, HSBC Global Research has upgraded Infosys (NYSE: INFY) to a “Buy” rating from its previous “Hold” rating. The analysts at HSBC Global Research have a 12-month price target of $25.42 for Infosys, representing a potential upside of approximately 23% from its current stock price.
The upgrade is attributed to a number of positive factors, including Infosys’ increasing revenue growth, expanding profitability, and improved cash generation. The company’s robust performance in recent quarters, driven by strong demand from clients and the company’s ability to win new contracts, has contributed to its improved outlook.
Additionally, HSBC Global Research cites Infosys’ significant talent pool, with over 200,000 employees globally, as a key driver of its success. The analysts also note that Infosys has made significant strides in its digital transformation, with a strong focus on emerging technologies such as cloud, artificial intelligence, and data analytics.
Overall, the upgrade and price target increase reflect HSBC Global Research’s optimism about Infosys’ growth prospects and its ability to continue to deliver strong results in a competitive market.