On Tuesday, Infosys Technologies (NYSE:NS:INFY) received a new stock coverage from Guggenheim, starting with a Neutral rating and a price target set at $20.00. The firm's decision is based on a balanced risk-reward scenario, as indicated by their analyst.
The analysis highlights that the rationale behind the Neutral rating is Infosys' potential for large deal ramps. However, this is tempered by a perceived lack of discretionary demand within the industry. This combination of factors has led to the establishment of the current price target for the company's shares.
Infosys Technologies, a global leader in next-generation digital services and consulting, has been evaluated for its market position and future growth prospects. Guggenheim's coverage initiation reflects their assessment of the company's current business environment and potential for future deals.
The price target of $20.00 suggests that Guggenheim sees limited upside potential for Infosys' stock price at this time. The target is set based on the firm's analysis of the company's financials and market conditions.
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