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Shares of Infosys today gained 1.7 per cent as CLSA sees strong FY16/17 and buybacks.
The brokerage has raised the target to Rs 2,800 from Rs 2,500 and reiterated high-conviction “buy’’ rating.
It says Infosys should see stronger revenue growth in FY16/17 as it gains leadership in digital and traditional services, while improving client mining.
“We expect it to offer more attractive returns for shareholders through a higher dividend-payout ratio (at least 40 per cent) and opportunistic buybacks,’’ CLSA says.
It also expects greater M&A activity to strengthen Infosys’ position in social, mobile, analytics and cloud services.
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