NEW YORK (TheStreet) -- Shares of Infosys  (INFY - Get Report) are down 0.57% to $16.71 in early-afternoon trading after receiving a downgrade to "neutral" from "buy" at Nomura.

The firm lowered its price target on shares of the India-based business technology consulting and IT services company to $17.57 from $20.12.

The price target decrease comes as the company delivered a lower than expected performance for its 2016 fiscal first quarter, according to the analyst note. 

Infosys now expects revenue growth to range between 10.5% and 12% in constant currency for the fiscal year ending March 31, 2017, down from its past projection of growth between 11.5% and 13.5% for the period.

Other downside risks include "Brexit impacts," which were "not incorporated in guidance," and "the second straight quarter of weak momentum in consulting and system integration (a third of INFY'S revenues)," Nomura said. 

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

We rate INFOSYS LTD as a Buy with a ratings score of A-. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, solid stock price performance and increase in net income. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity.

You can view the full analysis from the report here: INFY

INFY Chart INFY data by YCharts