Sharekhan is bullish on Tata Consultancy Services has recommended buy rating on the stock with a target price of Rs 2150 in its research report dated October 10, 2019.
Sharekhan's research report on Tata Consultancy Services
Revenue missed our estimates owing to incremental weakness in retail and softness in BFSI, while EBIT margin remained below our estimates due to higher investments in people. TCS reported strong deal TCV of $6.4 billion, which indicates strong competitive positioning of TCS offerings. We remain Positive on TCS given robust deal wins, ability to stitch together large multi-service deals, strong FCF generation and investor-friendly payouts.
We maintain our Buy rating on TCS with a revised PT of Rs. 2,150.
For all recommendations report, click here
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