Robert Baird Upgrades Infosys to “Outperform” (INFY)
India-based software company Infosys Ltd (INFY) was upgraded by analysts at Robert Baird early on Wednesday because economic and currency trends in India are improving and the company currently trades at an attractive valuation.
The analyts upgraded INFY from “Neutral” to “Outperform” and see shares reaching $58. This price target suggests a 19% upside to the stock’s Tuesday closing price of $48.61.
Infosys shares were up 33 cents, or 0.68%, during pre-market trading on Wednesday. The stock is up 14.92% year-to-date.
The Bottom Line
Shares of Infosys (INFY) offer a dividend yield of 1.52% based on Tuesday’s closing price of $48.61 and the company’s annualized dividend payout of 74 cents per share.
Infosys Ltd (INFY) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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