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Last Updated : Sep 18, 2018 04:59 PM IST | Source:

Hold Tata Consultancy Services; target of Rs 1943: Edelweiss

Edelweiss recommended hold rating on Tata Consultancy Services with a target price of Rs 1943 in its research report dated July 10, 2018.

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Edelweiss' research report on Tata Consultancy Services

Tata Consultancy Services (TCS) reported Q1FY19 revenue and operating margin of USD5,051mn (up 1.6% QoQ, 4.1% in cc) and 25.0%, respectively, exactly in line with our estimates and ahead of Street’s. Key highlights: 1) strong BFSI revival—up 3.7% QoQ; 2) best Q1 growth of ~10% YoY in last three years; and 3) robust growth in UK and Europe of ~19% YoY.


However, despite the sector-leading multiple of 22x FY20E EPS (20x earlier), CMP (21.2x FY20E EPS) factors in all positives. Maintain ‘HOLD/SP’ with a revised target price of INR1,943 (INR1,661 earlier).

For all recommendations report, click here

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

First Published on Jul 13, 2018 05:20 pm
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