Barclays cuts Infosys to 'equal weight' on Q1 earnings

Barclays Capital cut its ratings on Infosys to "equal weight" from "overweight", citing "disappointing" April-June earnings and saying the company's guidance was still too aggressive.

Barclays Capital cut its ratings on Infosys to "equal weight" from "overweight", citing "disappointing" April-June earnings and saying the company's guidance was still too aggressive.

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Barclays also cut its target price on the stock to 2,300 rupees from 3,010 rupees.

Infosys on Thursday sharply cuts its revenue forecast for fiscal 2012-13, sending its shares sharply lower.

"Full year guidance still implies aggressive growth going forward, which could be underestimating risks," Barclays said in a note.