TCS, Infosys, HCL Tech, TechM, Wipro: What lies ahead for IT stocks? Here's what Morgan Stanley says
IT stocks to buy: A better macro setup and improved commentary from hyperscalers and investor positioning keep the global brokerage firm neutral to positive on the IT space.
![TCS, Infosys, HCL Tech, TechM, Wipro: What lies ahead for IT stocks? Here's what Morgan Stanley says](https://cdn.zeebiz.com/sites/default/files/2024/04/01/286002-share-market-neutral.jpg?im=FitAndFill=(1200,900))
IT stocks to buy: Following Dublin-based multinational IT services company Accenture's results, Morgan Stanley has moderated its growth estimates for the India IT services sector and lowered its earnings per share (EPS). A better macro setup and improved commentary from hyperscalers and investor positioning keep the global brokerage firm neutral to positive on the IT space. "Rebound hopes in H2 should keep multiples afloat," Morgan Stanley said in its note.
The brokerage prefers Infosys, Tata Consultancy Services (TCS), and HCL Technologies. Check out the revised targets on the following IT stocks:
HCL Tech share price target
The brokerage has upgraded the Noida-headquartered IT company to an overweight call from an equal-weight rating. The brokerage has cut the target on the IT major to Rs 1,730 from Rs 1,750.
TCS share price target
The brokerage has maintained an overweight rating on TCS; however, it has cut the target by Rs 250 to Rs 4,350 on the Tata Group IT major stock.
Infosys share price target
The brokerage has retained an overweight rating on Infosys, the country’s second-largest IT company. However, it has cut the target to Rs 1,750 from Rs 1,820 earlier.
According to the brokerage, Infosys' Q4 results, which are due on April 18, and FY25 revenue guidance will be a key catalyst for the stock. The analyst at the brokerage expects 3-6 per cent CC revenue growth guidance in the base case.
"Base case growth hinges on strong deal wins in FY24, with a potential bounceback in H2, implying better conversion of deal wins into revenue," the brokerage added.
Tech Mahindra share price target
Morgan Stanley has maintained an underweight call on the Mahindra Group company with a reduced target of Rs 1,190 from Rs 1,220 earlier.
Wipro share price target
Morgan Stanley has continued an underweight rating on Wipro, with a target cut to Rs 450 from Rs 475.
Cyient share price target
The brokerage maintained an overweight rating on Cyient Limited. The brokerage has slashed the target to Rs 2,400 from Rs 2,450 on the counter.
Mphasis share price target
Morgan Stanley has retained an equal-weight rating on the mid-cap IT firm with a Rs 100 cut on the target price to Rs 2,600.
Coforge share price target
Morgan Stanley has maintained an overweight call on Corforge. The brokerage has slashed the target by Rs 950 on the IT stock to Rs 6,500.
LTIMindtree share price target
The brokerage has maintained an equal-weight rating on the L&T Group company and has reduced the target price to Rs 4,800 from Rs 5,700 earlier.
For all other news related to business, politics, tech and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/markets/stocks/photo-gallery-this-tata-group-stock-turned-every-rs-10000-of-investment-into-rs-11300-in-just-a-week-investors-richer-by-42722-crore-rupees-any-guesses-share-market-news-304023](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307143-tradingpexels.jpg?itok=rw4R7EfH)
A Tata group stock just turned every Rs 10,000 of investment into Rs 11,300 in just a week, investors richer by Rs 42,722 crore; any guesses?
![https://www.zeebiz.com/markets/stocks/photo-gallery-large-cap-midcap-stocks-shares-to-buy-for-long-term-check-out-targets-nifty-sensex-303617](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/25/306716-stockks.jpg?itok=KJTrFUIK)
Stocks to buy for long term: Analysts suggest buying these 5 largecap, 4 midcap scrips; check out targets
![https://www.zeebiz.com/personal-finance/photo-gallery-nps-retirement-planning-budget-2024-nirmala-sitharaman-announcement-how-nps-rulebook-change-can-increase-corpus-income-and-monthly-pension-by-40-compound-return-303984](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307102-indian-currency-pixabay-take.jpg?itok=kN21EW-9)
How your NPS retirement corpus and monthly pension can jump by 40% after this rule change; get details
![https://www.zeebiz.com/personal-finance/photo-gallery-senior-citizen-savings-scheme-scss-2024-interest-rate-calculator-post-office-how-to-get-inr-rs-50000-interest-retirement-planning-guaranteed-return-maturity-amount-small-savings-303930](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307042-fd-interest-file.jpg?itok=45ZbBRWM)
How much investment do you need in this senior citizen scheme to get Rs 50,000 quarterly interest? Know here
12:56 PM IST