Wipro, TCS, Infosys: Should you buy, sell or hold IT stocks?

ZeeBiz WebTeam | Jul 02, 2024, 08:51 AM IST

Global brokerages have revised their stance on select information technology (IT) stocks. The list includes names such as Wipro, Infosys, TCS, and others. Here is a revised list of IT stocks by the brokerages. As per Nomura, the growth in the IT sector is bottoming out in FY25F and will to improve in FY26F, thus Q1FY25F to be a mixed bag. The brokerage expects revenue growth for large caps to increase from three per cent in FY25F to 7.7 per cent in FY26F. Further, margins can improve gradually with large deal ramp-up and hiring pick-up in 2HFY25F. Moreover, the brokerage reckons earnings before interest and tax (EBIT) margin improvement of 20-110 basis points (bps) in FY25-26F for large caps.

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1/8

TCS

TCS:

Nomura upgraded TCS to 'neutral' and raised the target to Rs 3,800 from Rs 3,250. Menawhile, Goldman Sachs maintained a 'buy' on TCS and raised the target to Rs 4,450 from Rs 4,350.

2/8

Infosys

Infosys:

Nomura upgraded Infosys stock to 'buy' and raised the target to Rs 1,800 from Rs 1,400. Meanwhile, Goldman maintained a 'buy' on Infosys and raised the target to Rs 1,680 from Rs 1,650.

3/8

HCL Technologies

HCL Technologies

Nomura double upgraded HCL Technologies stock to 'buy' and raised the target to Rs 1,700 from Rs 1,400. Likewise, Goldman Sachs continued with a 'neutral' rating on HCL Technologies and raised the target to Rs 1,420 from Rs 1,370.

4/8

Wipro

Wipro:

Nomura upgraded Wipro to 'buy' and raised a target of Rs 600 from Rs 410. Conversely, Goldman Sachs iterated 'sell' on Wipro and raised the target to Rs 440 from Rs 430.

5/8

Coforge

Coforge:

Nomura maintained a 'buy' on Coforge and raised the target to Rs 6,670 from Rs 5,800.

6/8

Tech Mahindra

Tech Mahindra:

By maintaining a 'buy' rating on Tech Mahindra Nomura raised the target to Rs 1,600 from Rs 1,350. Meanwhile, Goldman Sachs continued with a 'sell' on Tech Mahindra and raised the target to Rs 1,160 from Rs 1,020

7/8

Persistent Systems

Persistent Systems:

Nomura iterated a 'neutral' rating on Persistent Systems and raised the target to Rs 4,100 from Rs 3,400

8/8

Mphasis

Mphasis:

Nomura continued with an 'underperform' rating on Mphasisand raised the target to Rs 2,300 from Rs 2,010.

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Wipro, TCS, Infosys: Should you buy, sell or hold IT stocks?

TCS

TCS: Nomura upgraded TCS to 'neutral' and raised the target to Rs 3,800 from Rs 3,250. Menawhile, Goldman Sachs maintained a 'buy' on TCS and raised the target to Rs 4,450 from Rs 4,350.

Infosys

Infosys: Nomura upgraded Infosys stock to 'buy' and raised the target to Rs 1,800 from Rs 1,400. Meanwhile, Goldman maintained a 'buy' on Infosys and raised the target to Rs 1,680 from Rs 1,650.

HCL Technologies

HCL Technologies Nomura double upgraded HCL Technologies stock to 'buy' and raised the target to Rs 1,700 from Rs 1,400. Likewise, Goldman Sachs continued with a 'neutral' rating on HCL Technologies and raised the target to Rs 1,420 from Rs 1,370.

Wipro

Wipro: Nomura upgraded Wipro to 'buy' and raised a target of Rs 600 from Rs 410. Conversely, Goldman Sachs iterated 'sell' on Wipro and raised the target to Rs 440 from Rs 430.