Infosys drew downgrades from JPMorgan and HSBC after its first-quarter earnings missed expectations and management cut its fiscal 2027 revenue growth guidance for a second consecutive quarter. JPMorgan lowered its rating to Neutral from Overweight and cut its price target to ₹1,050 from ₹1,200, while HSBC reduced its rating to Hold from Buy and lowered its target price to ₹1,110 from ₹1,340. The brokerages cited weaker demand, AI-driven pricing deflation, contract-related headwinds including a termination in the Energy, Utilities, Resources and Services segment and reduced work from a manufacturing client, and slower revenue conversion from strong deal wins. Infosys lowered its FY2027 constant-currency revenue growth guidance to 1.5%-3.0% from 1.5%-3.5%, and its organic growth outlook was reduced to -0.2% to 1.3%. The company also announced that Ashiss Kumar Dash will succeed Salil Parekh as chief executive from April 2027, a move both firms viewed as supportive of a smoother leadership transition.
HSBC Holdings PLC
Infosys Ltd ADR
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