BMO Capital has adjusted its outlook on Infosys (INFY), reducing the company's price target from $25 to $18. The investment firm maintains a Market Perform rating on the shares.
This revision follows the company's recent fourth-quarter performance report, management's latest guidance, and their commentary on the economic landscape. Analysts note that the current economic slowdown is likely to dampen growth and demand within the IT services sector. This sector's expansion is closely tied to global GDP trends, suggesting a potential decline in service demand reflective of challenging economic conditions.
