Reduce Infosys, target of Rs 1246: P Lilladher

(My Original Blog Post: -*http://www.onlineequitycalls.com/2008/12/reduce-infosys-target-of-rs-1246-p-lilladher/)
Prabhudas Lilladher has recommended a reduce rating on Infosys Technologies with a target of Rs 1246 in its December 3, 2008 research report. "The outlook for the company and the industry is obviously quite weak in the near-term. With a difficult FY10E and full-tax FY11E, the two year earnings CAGR (FY09-11) for the company is unlikely to be over 10-15%. While we expect Infosys to perform better than most other players in the industry, we rate the stock ‘Reduce’ with a target of Rs 1,246," says Prabhudas Lilladher's research report.