Home >Markets >Stock Markets >Infosys share price at its peak, analysts expect further 13% upside

The IT major Infosys share price has hit its all time high during the Christmas week. Infosys share price touched 1,258.85 for the first time on Wednesday. The shares climbed 4% during the week gone by. Year to date, the share has risen by over 69%. The share gained on its announcement of a long-term strategic partnership with Daimler AG for a technology-driven IT infrastructure transformation. Analysts are bullish about the stock and expect a further high of around 13% from the current level soon.

Last traded price of Infosys is 1,237.35.

"Focus on large deal wins was a key CEO agenda. Strong deal wins provide visibility of double-digit revenue growth for FY2022E," says Kotak Securities. The brokerage maintains a buy rating with a target price of 1,400. It expects company's earnings to grow by 12.0% in FY22E and 13.2% in FY23E.

ICICI Securities recommends Infosys as one of its top mid cap picks for 2021. The brokerage has set a target price of 1,410 per share. Another brokerage house, Anad Rathi has a buy call on Infosys with a target price of 1,385.

"We expect the company to continue to make a steady improvement in financials in coming quarters. Digital acceleration, large deal wins vendor consolidation and cost rationalisation remain key long term drivers," says ICICI Securities.

Infosys Ltd entered the 5 trillion market capitalization club this year, joining Reliance Industries Ltd, Tata Consultancy Services Ltd and HDFC Bank Ltd. Another company to cross 5 trillion market cap this year was Hindustan Unilever Ltd.

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