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On Thursday, ICICI Securities analysts upgraded Tata Consultancy Services Ltd. (NS:TCS:IN) stock rating from 'Add' to 'Buy', with a slight increase in the price target to INR 4,860.00 from INR 4,840.00.
"We like TCS because of its ability to gain market share and maintain industry-leading margins amidst a demand environment characterised by cost saving deals and greenshoots in discretionary spending," the firm said.
The new price target is based on a valuation multiple of 31 times the projected forward earnings of INR 157 per share.
However, the analysts also acknowledged potential risks that could impact the company's performance, including the inability to mitigate the effects of the ramp-down of the BSNL deal in the fiscal year 2026.
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