Trideep Bhattacharya of UBS says that he expects Satyam (SAY) to beat the Q1 guidance, and they are positive on the stock. He further states that they continue to favor large caps, with Infosys (NASDAQ:INFY) as their top pick. He adds that Infosys' FY07 EPS should reach Rs 130.50 and FY08 EPS is seen at Rs 165 (with bonus).
Speaking about Wipro (NYSE:WIT), he says that their results may be lukewarm due to the BPO drag. As a result, UBS is not recommending Wipro due to its valuation premium to Infosys. Bhattacharya is very bullish on Infosys and has set a target of Rs. 4000 over the next one-year perspective.
Regarding TCS, Bhattacharya says: “Margins may cool off a bit due to wages, visa cost and the impact of the Pearl Group. But overall, the ramp up will show that the demand is robust" (source: Money Control).
INFY-SAY 1-yr comparison chart: