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 April 12, 2019.
Sharekhan's research report on Tata Consultancy Services
We remain positive on TCS, given acceleration in deal wins with increasing TCVs, robust digital growth and strong demand commentary. TCS reported higher-than-expected CC revenue growth of 2.4% q-o-q/12.7% y-o-y; however, margins missed our estimates. Management has alluded at continuing of growth momentum in FY2020E despite macro challenges.
We maintain our Buy rating on TCS with an unchanged PT of Rs. 2,400.
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