Infosys shares rose 3.5 per cent to Rs 2,807.25 on Monday, extending gains from Friday, even as most top brokers kept ratings unchanged after the company’s better-than-expected third quarter results. However, most broking firms upgraded their price targets for the stock. While most analysts cheered the October-December results, they said the stock’s rally on Friday factors in the optimism surrounding the stronger-than-anticipated earnings. Nomura said while dollar revenue forecasts by the company was a surprise, the guidance for margins disappointed. Barclays said the company’s revenue trajectory had moved into a 'different orbit' and the stock should quote at higher multiples.(Click on graphics)
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