Buy Infosys and Mindtree - Third wave of IT outsourcing cycle ahead, says Goldman Sachs
Goldman Sachs has put a 12 month target price of Rs 1369 on Infosys and this implies 17% potential upside vs the sector coverage average of 4%. Goldman Sachs 12 month target price of Rs 1795 on Mindtree implies 23% potential upside vs the sector coverage average of 4%. Digitalization at scale and COVID-19’s acceleration of Work from Anywhere has boosted technology demand across industry verticals and geographies.
Goldman Sachs note that IT outsourcing has seen strong pick-ups (lasting at least two years) after previous crises (such as Y2K and the GFC): Reuters