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Investing.com - Goldman Sachs has raised its price target on Tech Mahindra Ltd. (NS:TECHM) to INR1,410.00 from INR1,380.00 while maintaining a Sell rating on the stock.
The adjustment follows Tech Mahindra’s second-quarter fiscal year 2026 results, which Goldman Sachs described as "an all round beat" on revenue growth, margins, and deal wins.
Despite the strong quarterly performance, Goldman Sachs noted that the company’s forward commentary suggests Tech Mahindra’s fiscal year 2027 revenue growth estimates, as well as those for the broader industry, may face downside risks.
The investment bank pointed out that Tech Mahindra expects FY27 to be better than FY26, but the company is not anticipating significant improvement in the industry growth rate.
Goldman Sachs had recently lowered its industry revenue growth estimate to 5.5% year-over-year for FY27, but now believes "the probability of downside seems greater than upside at this point."
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