Brokerages remain positive on TCS after Q3 results

Last updated: 11 Jan, 2021 | 12:53 pm

Brokerages remain positive on TCS after Q3 results

After TCS (Tata Consultancy Services) reported its strongest third-quarter growth in nine years, multiple foreign brokerage firms have maintained a positive stance on the stock. 

Except for Nomura, all of the following firms have a target price above the current market price.

  • Goldman Sachs said that TCS would be one of the key beneficiaries of the current wave of IT outsourcing and cloud migration given its scale of operation, wide set of capabilities/client base and a skilled employee set.
  • TCS remains Bernstein’s top pick in the sector on the back of the scale advantage. 
  • Nomura maintained a Neutral rating on the stock, saying sanguine demand environment and robust execution provide dual benefits of revenue growth as well as margin expansion.
  • Besides this, the likes of CLSA, HSBC and Jefferies upgraded their target price on the stock backed by stellar Q3 results. 

TCS has reported very strong results in Q3FY21, backed by strong deal wins and revenue pick-up across all segments. Click here to see our analysis of the Q3 results. View Stock

Finzoom Investment Advisors Private Limited (Brand Name - INDmoney, INDwealth, IND.app, IND.money, INDsave.com) makes no warranties or representations, express or implied, on products and services offered through the platform. It accepts no liability for any damages or losses, however, caused in connection with the use of, or on the reliance of its advisory or related services.

Past performance is not indicative of future returns. Please consider your specific investment requirements, risk tolerance, goal, time frame, risk and reward balance and the cost associated with the investment before choosing a fund, or designing a portfolio that suits your needs. Performance and returns of any investment portfolio can neither be predicted nor guaranteed.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Marketing and distribution of various financial products such as loans and deposits are powered by Finzoomers Services Private Limited.

INDmoney, INDwealth, IND.app are brand and product of Finzoom Investment Advisors (P) Limited.

© Finzoom Investment Advisors Private Limited

[SEBI RIA Registration No: INA100012190] [Type of Registration: Non-Individual] [Validity of registration: December 17, 2018-Perpetual] [Address: 616, 6th Floor, Suncity Success Tower, Golf Course Extension Road, Sector – 65, Gurugram, Haryana- 122005] [Principal Officer details: Mr. Gaurav Sharma, Email id: principalofficer@indwealth.in, Contact No. 8800826254] [Corresponding SEBI local office address: Securities and Exchange Board of India, Local Office, First Floor, SCO 127-128, Sector 17C, Chandigarh-160017]

[ARN - 151913] [Platform Partner : BSE (Member code-24801)] [CIN - U67190HR2018PTC073294] [GST No : 06AADCF3538Q1Z8]