Infosys Ltd.'s stock was downgraded to underweight at JPMorgan, which said the India-based IT company has lost its revenue-growth leadership.
It’s time to sell Infosys Ltd.’s stock after the India-based digital services and consulting company’s fourth-quarter results and guidance “missed sharply on every possible parameter,” said JPMorgan analyst Ankur Rudra.
“Recent loss of business momentum on revenues and signings” at a time when the business environment is weak shows that Infosys has “lost the revenue growth leadership,” Rudra wrote in a note to clients. The U.S.-listed stock closed Friday at the lowest price since Nov. 27, 2020, while the India-based shares closed Monday at the lowest price since Feb. 26, 2021.
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