ICICI Direct has given Buy recommendation for Tata Consultancy Services recommended buy rating on the stock with a target price of Rs 4600 in its research rep with a target price of Rs. 4600 in its research report issued on Jan 14, 2022

ICICI Direct’s research report on Tata Consultancy Services

Tata Consultancy Services (TCS) is one of the leading IT service providers with a presence in BFSI, communication, manufacturing, retail & hi tech. Consistent organic revenue growth and industry leading margins (>25%) • Stable management, robust return ratios (>RoCE 40%) & payouts (~70%).

Outlook

We continue to remain positive and retain our BUY rating on the stock. We value TCS at Rs 4,600 i.e. 34x P/E on FY24E EPS.

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