Last Updated : Sep 18, 2018 05:00 PM IST | Source:

Accumulate Tata Consultancy Services; target of Rs 2080: Prabhudas Lilladher

Prabhudas Lilladher recommended accumulate rating on Tata Consultancy Services with a target price of Rs 2080 in its research report dated July 10, 2018.

Broker Research @moneycontrolcom
  • bselive
  • nselive
Todays L/H

Prabhudas Lilladher's research report on Tata Consultancy Services

TCS delivered a strong set of performance for 1QFY19 with a beat on constant currency revenues, steady EBIT margins and PAT beat. However, USD revenues missed our estimates owing to strong headwinds from cross currency movements (~USD250bps for the quarter), Revenues at USD5051mn were up 1.6% QoQ and 10% YoY and below our estimates (PLe: USD5071mn). Constant currency growth for the stood at 4.1% and above our estimates (Ple: 3.5%).


TCS stock trades at 23x one year forward EPS (vs 19.3x traded four months ago). TCS trades at 22.2x FY20E EPS. TCS now trades at 5% premium to Accenture. Upgrades TP by 4% to Rs2080/sh (24x FY20E EPS) led by EPS upgrade. Retain Accumulate.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

First Published on Jul 11, 2018 02:02 pm
Follow us on
Available On