Research major Angel Broking has suggested buy call for technology counter TCS with a target of Rs 1276. TCS declared better than expected results for Q4 few days back.
The company management also issued positive guidance for future quarters. The stock is expected to be re-rated by stock market analysts. The company management has expressed confidence that they will go beyond targets and perform better than industry estimates.
The stock jumped after the results. TCS has touched 52-week high of Rs 1280 and 52-week low of Rs 902.
The company is among top technology solutions providers in India. At current market price, the stock is trading with P/E multiple of 21.26 compared to industry average of 18.
Nirmal Bang has also suggested positive guidelines for TCS. In a recent report, KRChoksey has maintained hold call for TCS with target price of Rs 1217.