TCS result has made research agencies bring an upgrade on the stock.
RBS Equities said on Friday that it had raised its target price on the leading Indian outsourcer
Tata Consultancy Services shares to 930 rupees from 900.By doing so, they have reiterated the “buy” rating on the stock.
TCS has had a 8 percent volume growth which has been similar to that of Infosys. This indicates strong demand and the stock will eventually see an up lift due to earnings upgrades and the valution results.
It was late on thursday that TCS announces that they were facing a strong demand after posting a better-than-expected 21 percent rise in quarterly profit.
JPMorgan has also raised price target for India’s TCS
JPMorgan said on Friday it had raised its March 2011 price target for leading Indian outsourcer Tata Consultancy Services to 915 rupees from 850 earlier.
TCS is our top pick among the large-caps in the Indian IT sector, JPMorgan said in a note.
