Wells Fargo analyst Jason Kupferberg initiated coverage of Infosys with an Equal Weight rating and $11 price target. The firm says the company "is not immune from AI transition." Wells awaits proof that Infosys is a net beneficiary of AI before recommending the shares. The stock's valuation "is not onerous," but its "choppy" demand environment and lack of near-term catalysts warrant being on the sidelines, the analyst tells investors in a research note.
