Outperform - Price 26.69 on Nov. 11
by William Blair & Co.

We estimate that INFY will generate fiscal '09 revenue of $4.75 billion and earnings per [American depositary share] of $2.21. Market cap: $15 billion.

Great management,long term competitive advantages

They seem to be HOT!!! Infy is probably growing at a higher rate than any other BPO

Outperform - Price 41.28 on Sept. 2
by Pacific Crest

Infosys recently announced its intention to acquire Axon Group (AXO.UK)...an all-cash proposal valued at £407.1 million ($753.1 million at GBP/USD exchange rate of £1 = $1.85), at £6 per share; completion expected in November 2008. The deal (1) would strengthen Infosys' SAP practice; (2) [will give INFY greater exposure to Europe. INFY and AXO have complementary industry strengths that should provide cross-selling opportunities for revenue growth. [It] would be neutral to earnings in F2009 and '10, assuming zero synergies...[The] operating margin of the acquired business [must be improved] from its current 14.4%. Market cap: $23.5 billion.

The upgrade suggests to me that global growth remains robust, says Tim Seymour. In EM I especially like tech names such as Taiwan Semiconductor (TSM) and Infosys (INFY).

growth

Consistent growth

Spending a lot of money to enlarge around the world.

Goldman Sachs said it is downgrading Infosys (INFY) to Neutral from Buy due to lower visibility, reduced growth outlook, and limited catalysts. See need for increased investor confidence in 2009 estimates, as well as potential impact of U.S. recession. Maintained $45 price target.

Vet high growth potential. Indian Pandits manager

too hard to predict/loss

Excellent Stock to have