Infosys shares drop nearly 3% despite CFO's upbeat AI outlook
Business
Infosys shares dropped nearly 3% on Monday, previous close at ₹1,144, even though the CFO sounded upbeat about the company's AI future.
In a chat with Nomura, he predicted AI services opportunities could reach a size of $300 billion to $400 billion by 2030.
Nomura sets ₹1,290 target for Infosys
Nomura has a "buy" rating for Infosys, setting a target price of ₹1,290 from the previous close of ₹1,144, saying AI will keep driving growth.
Infosys is focusing on six key areas in AI (from strategy to responsible tech), which has helped boost its AI revenue from 5.5% to 8.2% of total sales in just a few quarters.
Analyst opinions are mixed overall: most say "buy," some suggest "hold," and only a few recommend selling.