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ERROR: type should be string, got "https://www.barrons.com/articles/infosys-stock-is-down-because-it-cant-escape-downgrades-51555344197\nInfosys Stock Is Down Because It Can’t Escape Downgrades\nTeresa Rivas\nApril 15, 2019 12:03 pm ET\nInfosys stock (ticker: INFY) was trading lower on Monday, dented by at least five downgrades for the consulting, technology, and outsourcing company after its fourth-quarter earnings report.\nThe back story. Infosys stock is up 10.5% since the start of the year, and has risen 25% in the trailing 12-month period, touching a new 52-week high last week. However, the shares sold off on Friday after the company’s fiscal fourth-quarter earnings report.\nThe results weren’t the problem: Infosys earned 9.36 Indian rupees per share, on revenue of 215.39 billion rupees, while analysts were modeling for earnings per share of 8.95 rupees on revenue of 214.13 billion rupees. However, the company’s full-year guidance—for revenue to grow between 7.5% and 9.5% on a constant currency basis, with operating margins between 21% to 23%—disappointed some investors.\nWhat’s new. Infosys was hit with at least five analyst downgrades on Monday. Citigroup cut it to Neutral from Buy, Investec cut it to Hold from Buy, and Morgan Stanley cut it to Equal Weight from Overweight. Plus, at least two new bears were born: Credit Suisse downgraded it to Underperform from Neutral, and Nomura Instinet lowered the stock to Reduce from Neutral.\nLooking Ahead: Citi’s Surendra Goyal is fairly representative of those who chose to move to the sidelines. He praised the past year, especially revenue momentum, but questioned Infosys’s long-term margin outlook. He also notes the report was filled with “multiple small disappointments” in terms of the quarter and the guidance, which will likely “weigh on the stock given the decent returns year to date, despite buyback support.”\nYet Nomura Instinet’s Rishit Parikh took a harsher stance on the shares. He writes investors would be better served by cutting their losses, and that Tata Consultancy Services (EQTCS. India) looks like a better bet (although he still has a Neutral rating on that stock). His bearish stance rests on a disappointing sales outlook, margin risks, and what he sees as an expensive valuation. HCL Technologies (532281. India) is his favorite pick in the Indian IT space, although he also has a Buy rating on Cognizant Technology Solutions (CTSH).\nInfosys stock was down 0.4% to $10.51 at recent check.\nWrite to Teresa Rivas at teresa.rivas@barrons.com"