Redburn Atlantic Initiates Coverage on Infosys (INFY) With a Sell Rating

Infosys (NYSE:INFY) is one of the best growth stocks under $50 to buy now. In a report released on September 3, Harry Read from Redburn Atlantic initiated coverage on Infosys (NYSE:INFY) with a Sell rating and a price target of $12.00.

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In other news, Infosys (NYSE:INFY) announced a multi-year strategic collaboration with One Bright Kobe on September 2. One Bright Kobe operates Glion Arena Kobe, which is a new multi-purpose arena in Kobe, Japan.

Management reported that as part of the collaboration, Infosys (NYSE:INFY) would be Glion Arena Kobe’s Official Digital Innovation and GX (Green Transformation) partner.

The “strategic engagement” with Japan’s first entertainment arena, according to the company, is set to “revolutionize live entertainment and sports through advanced digital innovation and sustainable practices,” ushering in “a new era for live events” by leveraging the power of Infosys Cobalt.

Infosys Cobalt is a set of solutions, services, and platforms for enterprises to accelerate their cloud journey.

Infosys (NYSE:INFY) is a digital services and consulting company that provides end-to-end business solutions. The company’s operations are divided into the following segments: Financial Services, Retail, Communication; Energy, Utilities, Resources, and Services; Manufacturing, Hi-Tech, Life Sciences, and All Other.

While we acknowledge the potential of INFY to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than INFY and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.