Infosys remains top bet for Jefferies, target Rs 3280

Infosys remains top bet for Jefferies, target Rs 3280

Global investment bank Jefferies has maintained a 'buy' call on Infosys with a 12-month price target of Rs 3,280 per share. Infosys, India's second largest outsource, has seen some selling pressure this week after hitting a 52-week high.

Infosys shares are down 3.2 per cent for the week against a 1.8 per cent fall in the BSE IT index.

Jefferies is positive on Indian IT space and Infosys is its preferred stock.

FY14 is likely to be better as compared to FY13, the brokerage said, adding that the downgrade cycle is likely over for Infosys.

Performance of company has improved meaningfully, it said, adding that the Infosys management has suggested that there is more optimism in the US from where the company gets nearly 60 per cent of its revenues.

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