BMO Capital analyst Keith Bachman raised the firm’s price target on Infosys to $21 from $18 but keeps a Market Perform rating on the shares after its Q3 results. The company did not have to lower the mid-point of its FY guidance for the first time all year and its margins were in line, though negatively impacted by a cyber incident in November, the analyst tells investors in a research note. IT services demand has remained steady, though compares for the group should get easier through 2024, the firm added.
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