Insurance Technology Industry News

TMCNet:  Downgrade Alert for Infosys Technologies (INFY)

[December 04, 2012]

Downgrade Alert for Infosys Technologies (INFY)

Dec 04, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Infosys Technologies (NASDAQ:INFY) was downgraded from Outperform to Neutral at Cowen and Company today. The stock closed yesterday at $44.00 on volume of 1.0 million shares, below average daily volume of 1.9 million. Infosys Technologies share prices have moved between a 52-week high of $68.52 and a 52-week low of $37.93 and closed yesterday at 16% above that low price at $44.00 per share. The 200-day and 50-day moving averages have moved 0.39% lower and 0.36% lower over the past week, respectively.

Potential upside of 2.1% exists for Infosys Technologies, based on a current level of $44.00 and analysts' average consensus price target of $44.94. The stock should find initial resistance at its 50-day moving average (MA) of $45.30 and further resistance at its 200-day MA of $46.89.

Infosys Technologies Limited provides IT consulting and software services, including e-business, program management and supply chain solutions. The Group's services include application development, product co-development, and system implementation and system engineering. Infosys targets businesses specializing in the insurance, banking, telecommunication and manufacturing sectors.

SmarTrend is tracking the current trend status for Infosys Technologies and will alert subscribers who have INFY in their portfolio or watchlist when shares have changed trend direction.

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