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    HomeNewsBusinessStocksAccumulate TCS; target of Rs 2833: KR Choksey

    Accumulate TCS; target of Rs 2833: KR Choksey

    KR Choksey has recommended accumulate rating on TCS with a target price of Rs 2833 in its research report dated May 19, 2017.

    May 23, 2017 / 17:46 IST
       
       
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      KR Choksey's research report onTCS

      For FY18E, TCS has maintained its EBIT margin guidance in the range of 26-28% despite headwinds geo-political pressures and pricing pressure in traditional business. Additionally, Digital revenues as a percent of overall revenues increased to 17.9% in Q4 versus 16.8% in Q3 and reported a growth of 29% yoy.

      Outlook

      Additionally, we expect Products and Platforms to outperform through FY18E. We have “ACCUMULATE” rating on the stock and as we assign multiple of 17x to its FY19E EPS of INR. 166.7 to arrive at a price target of INR 2,833.

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

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      first published: May 23, 2017 05:46 pm

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