0605 GMT - Infosys's boosted fiscal-year revenue growth guidance is likely driven by strong execution and other factors during the first nine months of FY 2025, Nomura's Abhishek Bhandari says in a research report. A volume pickup and improved discretionary demand also likely helped it raise its FY 2025 revenue growth guidance to 4.5%-5.0% from 3.75%-4.5% previously, the analyst says. The digital services and consulting company is one of the best ways to play a possible improvement in discretionary demand for IT services, says the brokerage. It forecasts the company's dollar-denominated revenue growth at 5.0%-7.9% for FY 2025-FY 2026. Nomura raises the stock's target price to INR2,220.00 from INR2,190.00 with an unchanged buy rating. Shares are 5.6% lower at INR1,818.00. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 17, 2025 01:05 ET (06:05 GMT)
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