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Last Updated : Oct 08, 2020 03:38 PM IST | Source: Moneycontrol.com

Buy Tata Consultancy Services; target of Rs 3150: Sharekhan

Sharekhan is bullish on Tata Consultancy Services has recommended buy rating on the stock with a target price of Rs 3150 in its research report dated October 07, 2020.

Broker Research

Sharekhan's research report on Tata Consultancy Services

TCS impressed with strong recovery in revenue growth and margin expansion; deal signings remained strong at $8.6 billion (including Phoenix deal of $2.5 billion). Management indicated that this is the start of the first phase of a multi-year technology transformation cycle given emergence of a new operating model, large adoption of cloud and acceleration of technology spends by customers. We expect TCS’ revenue and earnings to clock a 11%/13% CAGR over FY2021-23E; we prefer TCS on account of its full-service business model, early investments in digital capabilities and higher payout policy.


We maintain our Buy rating on TCS with a revised PT of Rs. 3,150, given its differentiated positioning and deep relationships with large global enterprises.

For all recommendations report, click here

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First Published on Oct 8, 2020 11:50 am