Prabhudas Lilladher has reiterated 'Buy' on Infosys with target price of Rs 4,550 as against current market price (CMP) of Rs 3,750 in its report.

Commenting on the investment rationale, the stock broker said, ''In the recent webcast, NR Narayan Murthy reiterated that the senior level exits from the company are unlikely to hurt the business. The company continues to strive for meritocracy and has set tone for no tolerance for mediocrity.

The restructuring process initiated at the top of the pyramid has now percolated down to the middle. This will not only improve the service delivery, but will also right-size the pyramid. Murthy was confident of regaining the ‘numero uno’ position for both, growth and margin.

The ongoing endeavour is likely to help bring better value to the clients with improved client satisfaction along with margin expansion in FY15. Reiterate ‘Buy’ with TP of Rs 4,550, 18x FY16E earnings estimate.''

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