For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Brokers Bet On TCS Post Quarterly Numbers

|

Brokers are betting on the stock of TCS post its quarterly numbers, with several of the brokerage houses either having a "buy" or "accumulate" call on the stock.

Brokers Bet On TCS Post Quarterly Numbers
Interestingly, on Friday the stock rallied a huge 6 per cent to close at Rs 3,414 and has now surpassed the target of some of the broking houses. This means there could be limited upside in the stock.
 

"TCS delivered a strong set of performance for 4QFY18 with a beat on USD revenues and PAT. Revenues at USD4972mn were up 3.9% QoQ and 11.6% YoY and above our estimates (PLe: USD4921mn). We value TCS at 21x FY20E EPS (vs 17.5x FY20E earlier) which yields a TP of Rs3380/sh. This represents a 20% upgrade in our target price. Retain Accumulate, " Prabhudas Lilladher wrote in its report.

Sharekhan too is bullish on the stock and has in fact having a higher target of Rs 3,500 on the stock. "We expect TCS to continue to trade at a premium to its peers. Hence, we upgrade our rating on the stock to Buy from Hold with a revised price target (PT) of Rs. 3,500," the brokerage firm has said in its report.

ICICI Direct has a "buy" on the stock of TCS. ICICI Direct recommended hold rating on Tata Consultancy Services with a target price of Rs 3260 in its research report dated April 20, 2018.

"The management commentary on its key vertical such as BFSI and retails also indicate a pick-up in revenue growth in FY19E. However, the acceleration in revenue growth seems to be priced in current valuation (20.5x FY20E EPS). Hence, we maintain our HOLD rating on the stock with a revised target price of Rs 3260 (20x FY20E EPS)," ICICI Direct has said in its report.

It's to be noted that the stock has already run-up sharply.

GoodReturns.in

Read more about: bse nse
Story first published: Saturday, April 21, 2018, 7:27 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X