Most brokerages bullish on TCS post Q3; CLSA upgrades to 'Outperform'

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Most brokerages bullish on TCS post Q3; CLSA upgrades to 'Outperform' - Business Standard

Quick Summary:

The New York-headquartered Jefferies reiterated a ‘Buy’ rating with a target of Rs 4,760, highlighting management's optimistic outlook, margin improvement potential, and attractive valuation.

The firm acknowledged early signs of revival in discretionary spending and retained an ‘Add’ rating with a target price of Rs 4,500, citing attractive valuations post recent underperformance.

According to reports, the London-headquartered HSBC kept a ‘Hold’ rating with a target of Rs 4,540, acknowledging optimism for CY25 while cautioning about downside risks in FY26, especially from European market pressures and the BSNL deal.