Infosys Ltd ADR (INFY) Formed a Bullish Multiple Top Chart Pattern, Could Be One of The Best Performers Soon

September 17, 2017 - By Dolores Ford

The stock of Infosys Ltd ADR (INFY) shows a multiple tops pattern with $15.38 target or 5.00 % above today’s $14.65 share price. The 5 months chart pattern indicates low risk for the $32.38B company. It was reported on Sep, 17 by Finviz.com. If the $15.38 price target is reached, the company will be worth $1.62 billion more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 0.69% or $0.1 on September 15, reaching $14.65. About 5.06 million shares traded. Infosys Ltd ADR (NYSE:INFY) has declined 17.92% since September 17, 2016 and is downtrending. It has underperformed by 34.62% the S&P500.

Analysts expect Infosys Ltd ADR (NYSE:INFY) to report $0.24 EPS on October, 24 before the open.They anticipate $0.00 EPS change or 0.00 % from last quarter’s $0.24 EPS. INFY’s profit would be $530.46M giving it 15.26 P/E if the $0.24 EPS is correct. After having $0.24 EPS previously, Infosys Ltd ADR’s analysts see 0.00 % EPS growth.

Infosys Ltd ADR (NYSE:INFY) Ratings Coverage

Among 20 analysts covering Infosys (NYSE:INFY), 4 have Buy rating, 2 Sell and 14 Hold. Therefore 20% are positive. Infosys had 28 analyst reports since July 24, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Thursday, May 26 by Goldman Sachs. Susquehanna maintained it with “Neutral” rating and $19 target in Tuesday, September 1 report. The stock of Infosys Ltd ADR (NYSE:INFY) earned “Hold” rating by J.P. Morgan on Monday, August 21. The stock has “Buy” rating by Deutsche Bank on Tuesday, August 29. The stock of Infosys Ltd ADR (NYSE:INFY) has “Neutral” rating given on Monday, August 21 by JP Morgan. As per Thursday, January 14, the company rating was upgraded by Credit Suisse. The stock of Infosys Ltd ADR (NYSE:INFY) earned “Neutral” rating by Credit Suisse on Monday, July 18. BMO Capital Markets maintained the stock with “Hold” rating in Friday, August 18 report. The rating was maintained by Cantor Fitzgerald with “Hold” on Friday, August 25. The company was maintained on Friday, August 18 by Stifel Nicolaus.

More recent Infosys Ltd ADR (NYSE:INFY) news were published by: Investorplace.com which released: “Infosys Ltd ADR (INFY) Stock Sinks on Surprise CEO Resignation” on August 18, 2017. Also Investorplace.com published the news titled: “Infosys Ltd ADR (INFY) Hiring 10000 US Workers” on May 02, 2017. Benzinga.com‘s news article titled: “Traders Are Piling Into This India ETF” with publication date: September 07, 2017 was also an interesting one.

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