Sharekhan is bullish on Tata Consultancy Services has recommended buy rating on the stock with a target price of Rs 2400 in its research report dated October 11, 2018.
Sharekhan's research report on Tata Consultancy Services
In-line quarter, return of double-digit y-o-y growth was driven by acceleration in digital revenue growth and healthy growth in BFSI and retail segments. Management remains optimistic to deliver double-digit CC growth in FY2019 despite weak seasonality in 2HFY2019, led by ramp-up of deals and increasing traction in the U.S. TCS is well positioned from a competitive perspective, given its differentiated capabilities along with its ability to structure large-scale multi-dimensional projects.
We maintain our Buy rating on TCS with a PT of Rs. 2,400, reflecting an upside of 21% from the current level.
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