Whereas Credit score Suisse, Jefferies, Bernstein, Nomura, and BNP Paribas elevated their goal worth for
, Goldman Sachs diminished it. JP Morgan and Morgan Stanley maintained their goal costs.
Whereas sustaining a ‘maintain’ ranking with a goal worth of ₹4,180, Jefferies mentioned TCS’s wealthy multiples provide restricted scope for rerating relative to its development. “The corporate recorded a wholesome development; nevertheless, weak margins upset,” the agency mentioned.
Morgan Stanley mentioned higher development greater than offsets the margin miss. Income development stunned after a niche of two quarters, which ought to drive some optimism in direction of the inventory, it mentioned. Morgan Stanley sees room for valuations to maneuver up and has a goal of ₹4,400 on the inventory.
In accordance with Edelweiss, TCS delivered robust development numbers, and the general pipeline stays strong. “We imagine demand for core transformation stays robust, and this coupled with exemplary execution is more likely to drive robust earnings,” Edelweiss mentioned in a observe.
Motilal Oswal has maintained its constructive stance on TCS, given its robust development outlook. “We’re inspired by the strong topline development in a seasonally weaker quarter. We count on this efficiency to alleviate the issues on its development potential and the doubtless drag from rising share of smaller offers available in the market,” the brokerage mentioned, whereas decreasing its FY22 EPS by 2%.
Shares of TCS gained 1.05% to ₹3,897.65 on Thursday.