TCS share price rises after Q4 results, brokerages positive on stock: Should you buy? - Hindustan Times
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TCS share price rises after Q4 results, brokerages positive on stock: Should you buy?

Apr 15, 2024 09:45 AM IST

TCS share price: TCS reported its highest EBIT margin in three years along with a record-breaking $13.2 billion in deal wins.

TCS share price: Shares of Tata Consultancy Services (TCS) rose today (April 15) after the company announced its profit in the quarter ended March 2024 on Friday. TCS reported its highest EBIT margin in three years along with a record-breaking $13.2 billion in deal wins.

TCS share price: The brokerage upgraded TCS' stock to 'overweight' and raised its price target to <span class='webrupee'>₹</span>4,500 from <span class='webrupee'>₹</span>4,000 earlier.(Reuters)
TCS share price: The brokerage upgraded TCS' stock to 'overweight' and raised its price target to 4,500 from 4,000 earlier.(Reuters)

TCS share price on April 15

TCS share price opened at 4,001.40 against its previous close of 4,001.40 after which it rose about 1.6 per cent to hit 4,064.20 on the NSE. The stock traded among the top gainers in the Nifty 50 index, 0.59 per cent higher at 4,024.95. The stock has gained over 5 per cent this year so far against a nearly 4 per cent gain in the benchmark Nifty 50.

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What JPMorgan said on TCS stock?

Brokerage firm JPMorgan called TCS a "cross-cycle champion" which will benefit from cost takeout deals in the short term and a discretionary digital transformation deals in the medium term. The brokerage upgraded TCS' stock to 'overweight' and raised its price target to 4,500 from 4,000 earlier.

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What Goldman Sachs said on TCS share price?

Goldman Sachs said that TCS' quarterly performance increased the probability of the company reporting double-digit earnings growth in FY25 as the brokerage retained its 'buy' rating on the stock with a price target of 4,350. The brokerage also maintained its 8 per cent revenue growth projection for the company in FY25.

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What UBS said on TCS stock?

UBS said that TCS management appeared cautious of potential risk of deal deferments and slippages. The brokerage noted, “Nonetheless, the conversion of deal wins into revenue is a matter of time”. It put a 'buy' rating on the stock with a target price of 4,700 per share.

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