Jefferies lowered the firm’s price target on Infosys (INFY) to $19.71 from $21.43 and keeps a Buy rating on the shares. Higher uncertainty and potential worsening of the business outlook due to recent tariff announcements will hurt IT demand, at least in FY26, says the analyst, who cut EPS estimates across Jefferies’ Indian IT firms’ coverage by 2%-14%. Among the group, Infosys, Coforge and Sagility remain the analyst’s picks with Buy ratings on those three.
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