Infosys Limited (INFY) Draws Bullish Attention After Forming Bullish Double Top Chart Pattern

April 21, 2018 - By Adrian Mccoy

Infosys Limited (NYSE:INFY) Logo

The chart of Infosys Limited (INFY) shows a double top with $18.41 target or 6.00 % above today’s $17.37 share price. The 5 months chart pattern indicates low risk for the $40.87B company. It was reported on Apr, 21 by If the $18.41 price target is reached, the company will be worth $2.45B more. Double tops are rare but powerful chart patterns.

The stock increased 1.16% or $0.2 during the last trading session, reaching $17.37. About 8.63M shares traded or 36.54% up from the average. Infosys Limited (NYSE:INFY) has risen 12.51% since April 21, 2017 and is uptrending. It has outperformed by 0.96% the S&P500.

Analysts await Infosys Limited (NYSE:INFY) to report earnings on July, 13. They expect $0.25 earnings per share, up 4.17 % or $0.01 from last year’s $0.24 per share. INFY’s profit will be $588.23 million for 17.37 P/E if the $0.25 EPS becomes a reality. After $0.26 actual earnings per share reported by Infosys Limited for the previous quarter, Wall Street now forecasts -3.85 % negative EPS growth.

Infosys Limited (NYSE:INFY) Ratings Coverage

Among 9 analysts covering Infosys Limited (NYSE:INFY), 2 have Buy rating, 2 Sell and 5 Hold. Therefore 22% are positive. Infosys Limited had 12 analyst reports since November 10, 2017 according to SRatingsIntel. The stock has “Negative” rating by Susquehanna on Monday, February 5. The stock has “Buy” rating by Jefferies on Monday, April 16. The company was maintained on Thursday, January 4 by Robert W. Baird. The company was maintained on Friday, November 10 by Robert W. Baird. The firm has “Hold” rating given on Friday, April 13 by Stifel Nicolaus. The company was upgraded on Monday, February 5 by Goldman Sachs. The firm has “Sell” rating by Susquehanna given on Monday, April 16. The rating was maintained by KeyBanc Capital Markets with “Hold” on Thursday, November 16. Cowen & Co maintained the shares of INFY in report on Monday, January 15 with “Hold” rating. Robert W. Baird maintained it with “Hold” rating and $1800 target in Tuesday, April 3 report.

Infosys Limited (NYSE:INFY) Ratings Chart

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