Top IT services stocks offer 10-15% upside, says Investec

Mumbai: Brokerage Investec said the risk-reward profile has improved for most IT services stocks over the past month, with the top ones now offering over 10-15% one-year return potential compared to limited returns earlier. The brokerage has a ‘Buy’ rating on six IT services firms and a ‘Hold’ rating on two, projecting 2-27% upside in these stocks.

In its latest report, Investec upgraded Infosys to ‘Buy’ from ‘Hold’ and set a price target of ₹1,655, implying nearly 8% gains from Monday’s close.