Jefferies Group upgraded shares of Infosys Technologies Ltd (NASDAQ: INFY) from a hold rating to a buy rating in a report issued on Friday, TheFlyOnTheWall.com reports. They currently have $59.00 target price on the stock, down from their previous target price of $64.00.

“Management commentary is largely unchanged over the last 6-9 months; despite that the performance of the company has improved meaningfully. With deal wins in the recent past, growth will normalize. Infosys has a lot of slack with utilization ~11% below recent peaks. Our India strategist has been calling for a weaker INR over the coming years with an Overweight on Exporters. We remain positive on Indian IT with Infosys a preferred pick.,” Jefferies Group’s analyst wrote.

Infosys Technologies Ltd (NASDAQ: INFY) opened at 53.22 on Friday. Infosys Technologies Ltd has a 1-year low of $37.93 and a 1-year high of $58.09. The stock’s 50-day moving average is currently $53.01. The company has a market cap of $30.410 billion and a price-to-earnings ratio of 17.45.

INFY has been the subject of a number of other recent research reports. Analysts at TheStreet upgraded shares of Infosys Technologies Ltd from a hold rating to a buy rating in a research note to investors on Monday, January 28th. Separately, analysts at Zacks reiterated a neutral rating on shares of Infosys Technologies Ltd in a research note to investors on Friday, January 25th. They now have a $55.00 price target on the stock. Finally, analysts at BMO Capital Markets reiterated a market perform rating on shares of Infosys Technologies Ltd in a research note to investors on Monday, January 14th.

Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $51.78.

Infosys Limited (NASDAQ: INFY), formerly Infosys Technologies Limited, provides business consulting, technology, engineering and outsourcing services.

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