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HCLT, Infosys: Morgan Stanley ups target price of IT stocks by up to 29%

Among individual stocks, Morgan Stanley has maintained their overweight rating on HCLT, LTIMindtree and Infosys within the large-caps.

The attrition rate at Infosys touched a record high of 27.7 per cent in the fourth quarter of FY22 on an LTM (last twelve months) basis, the company revealed
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Puneet Wadhwa New Delhi

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Morgan Stanley has increased the target prices of certain information technology (IT) stocks by as much as 29 per cent, anticipating an improvement in earnings in the near future. Within the IT and engineering research and development (ER&D) services sector, it is now more optimistic about growth and margin estimates for 2024-25 (FY25).

In a recent report, analysts at Morgan Stanley wrote in a recent report that, along with the stabilisation of macroeconomic risks, the conversion of pipeline projects into the order book (evidenced by numerous significant deal announcements) and commentary on the discretionary spending environment, though weak, not deteriorating

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First Published: Sep 27 2023 | 12:08 PM IST

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