Credit Suisse downgrades TCS to 'neutral'
Credit Suisse downgraded Tata Consultancy Services to 'neutral' from 'outperform' on Monday, saying all positives were priced in.
April 25, 2011 / 12:10 IST
Credit Suisse downgraded Tata Consultancy Services to 'neutral' from 'outperform' on Monday, saying all positives were priced in.
"Given its strong share price performance, and a high overweight in investor portfolio, we believe that the risk-reward is no more in our favour," it said in a note.TCS shares are up 7.4% since the start of March.Meanwhile, in an interview with CNBC-TV18 the company said that, it is expecting a decent growth in FY12 as the demand environment continues to be good. However, the management is concerned that margin improvement will be difficult from current levels.
Also Read:Pricing to improve in FY12 but margin may remain flat: TCS Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
