12:50 AM EDT, 04/22/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our target price at USD20 despite raising our valuation target to 25x FY 25 (Mar.) (from 23x), above the 5-year mean P/E of 24x. We trim our FY 25 EPS by 7% to USD0.79 and initiate FY 26 EPS at USD0.88. Infosys' ( INFY ) FY 24 result was within our expectations with EPS +6% to USD0.76 on revenue +2% to USD18.6 bln. OPM narrowed slightly by 0.4ppt to 20.7%, mainly due to salary hikes since November 2023, which were mostly offset by an 8% increase in revenue per core employee. Positively, Infosys ( INFY ) achieved USD17.7 bln large deal wins in FY 24 (Mar-Q: USD4.5 bln), a sharp rise from FY 23's USD9.8 bln, although we expect most of the revenue growth impact to come in FY 26 when corporate spending potentially shifts towards discretionary spending. We turn increasingly constructive on Infosys ( INFY ) due to generative AI (genAI), which could boost both revenue (on wide adoption potential across almost all business areas) and margins (through genAI use for coding workload).