TCS
13.01.2022 - CITI on TCS Maintain SELL CMP 3857 Target 3580
13.01.2022 - MS on TCS Maintain Overweight CMP 3857 Target 4400
13.01.2022 - GS on TCS Maintain Buy CMP 3857 Target 4747
GOLDMAN SACHS ON TCS : 09.07.2021
* MAINTAIN BUY TARGET: 3,703
* GS maintains Buy rating on TCS, but target is cut to Rs 3,703. It believes co's strong domain expertise to help maintain double-digit rev growth over FY22-24
* EPS Estimates Cut By 2-5% To Factor In Loss In India Biz & Lower Margin
* Few Discretionary Expenses Expected To Return By End Of FY22
* Strong Domain Expertise To Help Maintain Double-digit Rev Growth Over FY22-24
UBS ON TCS : 09.07.2021
* UBS has a Neutral stance on TCS after Q1 earnings
* MAINTAIN NEUTRAL TARGET: 3,345
• Q1 Revenue & Margin Miss Forecasts
* Expect Consensus Earnings Cuts Post Q1 Numbers
• Broader Market Concerns Could Keep The Stock Defensive
JPMORGAN ON TCS : 09.07.2021
* JPMorgan maintains Overweight rating on TCS as deal wins remain strong
* MAINTAIN OVERWEIGHT TARGET: 3,680
* Misses Across Revenues/EPS Led By India/EU
* Deal Wins Remain Strong
• Co's Exposure To India Is Higher Than Peers
* Primary Takeaways From Its Strong Deal Wins & Key Verticals Positive For Infosys, HCL
CITI ON TCS : 09.07.2021
* MAINTAIN SELL TARGET: 3,080
* Citi has a Sell rating on TCS as it finds valuations high for a FY20-23 EPS CAGR estimate of 7%
* Q1 Slightly Below Our Expectations On Revenues
* As Expected, India Business Was Weak QoQ
* Trim EPS Estimates By 1 2%
* Find Valuations High For A FY20-23 EPS CAGR Estimate Of 7%
MACQUARIE ON TCS : 09.07.2021
* Macquarie maintains Outperform call on TCS but cuts FY22-23 EPS estimates by 1%
* MAINTAIN OUTPERFORM TARGET: 3,640
* Strong Constant Currency Revenue Growth Partly Offset By Weakness In India
• Well Positioned To Benefit From Strong Demand Environment
* FY22-23 EPS Estimates Cut By 1%
CLSA ON TCS: 09.07.2021
* Maintain Outperform, Target at Rs 3,770/share
* Soft domestic business, strong margin defence, healthy order book
* FY22 and beyond strategic priorities are changing
* Margin defence should keep cash conversion healthy
CITI ON TCS : 09.07.2021
* Maintain SELL on TCS
* Q1 slightly below expectations; India business was weak QoQ
* LTM attrition went up to 8.6% (vs 7.2% qoq)
* Trim EPS by ~1-2%; target price of Rs 3,080
MACQUARIE ON TCS : 09.07.2021
* Maintain Outperform, Target at Rs 3,640/share
* Strong growth in core markets partly offset by India weakness
* TCS remains well positioned to benefit from strong demand
* <1% change in FY22-23 EPS; Growth pick-up to aid stability
