Arihant Capital recommended hold rating on TCS with a target price of Rs 2225 in its research report dated July 10, 2019.
Arihant Capital 's research report on TCS
TCS came out with mixed set of numbers in Q1FY20, revenue and EBIT margin were slightly below our as well as street estimate; however PAT for the quarter was ahead of our estimate owing to higher other income. Digital business continued to show traction, though BFSI vertical remained on a weak footing. We are positive on the stock from longer term perspective, however in the near term we see limited upside due to expensive valuation and tepid management commentary.
Outlook
We maintain our HOLD rating on the stock with a target price of Rs 2225 (unchanged).
For all recommendations report, click here
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