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Citigroup Downgrades Indian IT Space

November 7, 2007

A month after Lehman Brothers downgraded Indian IT companies, Citigroup Analyst gathered the courage and downgraded the earnings target. We had also said that a downgrade was necessary which has come a bit too late.

Here are the new Target prices for Infosys, Wipro, TCS, Satyam as set by Citigroup.
Infosys Technologies – Rs 2190
TCS – Rs 1290
Wipro – Rs 565
Satyam – Rs 565
HCL Tech – Rs 365
i-Flex – Rs 1570
Patni – Rs 475
Mphasis – Rs 360
Hexaware – Rs 122
Sasken – Rs 372
KPIT – Rs 140

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