Infosys shares fall 3% as JPMorgan downgrades stock, Jefferies cuts target after Q1 results

Infosys shares dropped 3% after multiple broker downgrades following its Q1 FY27 results. The IT major reported a 12% year-on-year rise in net profit to Rs 7,769 crore and 14% revenue growth to Rs 48,211 crore, but cut its FY27 revenue growth guidance for the second consecutive quarter to 1.5%-3% (organic -0.2% to 1.3%). JPMorgan downgraded the stock to Neutral with a target price of Rs 1,050, while Jefferies, Morgan Stanley, and Citi also lowered their target prices, citing weak demand, AI-led deflation, and subdued discretionary spending.