Infosys and TCS Shares Surge on Revised Targets from
Bernstein
Bernstein maintained its 'outperform' rating on Infosys but raised its
target share price to Rs 1,600 from Rs 1,580. The brokerage cited
Infosys' strong growth prospects and its ability to execute on its
strategic
initiatives as key factors behind the positive outlook.
For TCS, Bernstein maintained an 'outperform' rating but cut its target price to Rs 3,800 from Rs 3,940. The brokerage attributed
the target price cut to a moderation in TCS's growth expectations in
the near term.
Overall, the revisions from Bernstein reflect a positive view on the
Indian IT sector, with Infosys and TCS continuing to be seen as key
beneficiaries of the sector's growth.
Infosys and TCS Shares
Advance Amid Bernstein's
Target Price
Revisions
Shares of Infosys and Tata
Consultancy Services (TCS)
gained ground on Tuesday,
November 21, following
contrasting target price adjustments by brokerage firm Bernstein for
the IT giants' stocks.
Infosys' stock price appreciated by 0.52% or Rs 7.40 to Rs 1443.70,
while TCS shares climbed 0.22% or Rs 7.70 to Rs 3527.00 each on
the
BSE at 10:09 am on Monday.
Bernstein maintained an 'outperform' rating for Infosys but raise its
target price to Rs 1,600 from Rs 1,580, citing the company's strong
growth prospects and its ability to execute on strategic initiatives.
In contrast, Bernstein retained an 'outperform' rating for TCS but
lowered its target price to Rs 3,800 from Rs 3,940, attributing the
adjustment to a moderation in TCS's near-term growt expectations.
Despite the contrasting target price revisions, Bernstein's overall
outlook on the Indian IT sector remains positive, with Infosys and
TCS positioned as key beneficiaries of the sector's growth
trajectory.
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