IT stocks to buy: Ahead of Q2 results, JP Morgan bullish on 1 midcap and 3 largecaps; bearish on 1 largecap stock,
Indian IT sector amid no major headwinds is seen to log margin improvement in Q2
Ahead of the earnings season which is set to begun with TCS scheduled to report its Q2 number on October 10, global brokerage has come up with its take on different IT stocks including largecaps and midcaps.
IT companies maintained consistency, but recovery gradual, says Prabhudas Lilladher
In its preview report, Prabhudas Lilladher maintained that during Q2, IT companies maintained consistency but recovery remained gradual. Growth recovery should continue in Q2, with selective verticals maintaining the upward bias, instead of a broad-based recovery, it added. Also, it noted that as no major headwinds are foreseen margins will rise further.
IT stock to buy: Mphasis
JP Morgan upgraded Mphasis to 'overweight' rating and raised target to Rs 3400.
IT stock to buy: Wipro
The brokerage continues with its neutral rating on the stock with a raised price target of Rs 580.
IT stock to buy: Infosys
The brokerage has continued with its overweight call and raised the target to Rs 2,250 per share.
Stock to buy: LTIMindtree
The brokerage has upgraded the stock to overweight with the raised target price of Rs 6,900.
HCL Technologies
The brokerage maintains neutral stance on the stock with a target of Rs 1,750, a price lower than the LTP of the stock.
Tech Mahindra
JP Morgan maintains underweight on the stock with the target raised to Rs 1,500 per share.
Stock to buy: TCS
TCS has maintained its overweight stance on the largecap IT stock for a target of Rs 5,200.