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.
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.