Infosys delivered a superb set of Q2 results with margins, revenues and net profits better than estimates. However, the company's guidance and the resignation of CFO Rajiv Bansal were the biggest disappointments following the results.
Dollar revenue guidance for the full year was cut to 6.9-8.4 percent, which has been a drag on the shares of Infosys.
Foreign broking firm Nomura has raised the Infosys target price to Rs 1,225 from Rs 1,190 and has put a "buy" rating on the stock.
Morgan Stanley has raised the target price on Infosys to Rs 1300. "Infosys delivered strong Q2 lead by better Revenue. We believe operational metrics are robust. Business trajectory for Infosys looks promising," the firm has said.
Barclays has a "buy" call on Infosys with a price target of Rs 1320.
The firm has said that it expects Infosys to sustain the revenues in the near term.
Girish Pai, Head of Research at Nirmal Bang, in an interview to CNBC TV 18, placed the firm's target price on the Infosys stock near Rs 1,190.
Most analysts are bullish on the stock and have recommended a buy. The stock has fallen almost 7 per cent since results, which makes it a little more attractive at current levels.