Key Points
CLSA India has upgraded its rating on a few frontline information technology stocks and even raised price targets for a few of them, even though it expects most of the companies to offer a conservative outlook amid an uncertain global environment...
For TCS, the price target has been increased to Rs 4,043 from Rs 3,925, and for HCLTech, it has been raised marginally to Rs 1,553 from Rs 1,536...
Tech Mahindra has been upgraded to buy from outperform but the price target has been reduced marginally to Rs 1,508 from Rs 1,518...
CLSA has also retained outperform rating on Infosys but cut the price target to Rs 1,706 from Rs 1,741...
While the overall outlook for the sector remains bleak, CLSA expects TCS to report industry-leading constant currency revenue growth sequentially in the March quarter...
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