Emkay Global Recommends 'BUY' on Infosys with Rs 1750 Target Price

• Infosys reported mixed Q3 results: revenue beat estimates, but margin missed expectations, with 0.6% CC QoQ revenue growth.
• Adjusted EBITM declined by 20 bps QoQ to 20.8%, falling short of estimates.
• Strong large deal TCV of USD 4.8 billion in Q3, with 57% being net new deals.
• Management anticipates accelerated revenue growth in BFSI and EURS verticals for FY27, driven by deal wins and AI partnerships.
• FY26 revenue growth guidance raised to 3-3.5% CC, while EBITM guidance remains 20-22%.

Why It Matters: Emkay Global maintains a 'BUY' rating for Infosys, setting a target price of Rs 1,750 based on strong deal wins.