TCS Infosys Wipro Stock Price Targets Cut Amid AI Concerns
- Foreign brokerage firm Jefferies has turned more cautious on Indian IT services stocks, revising its target prices for Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro, and Tech Mahindra.
- Jefferies continues to rate Wipro and Tech Mahindra as its least preferred picks, reiterating an "Underperform" call on both.
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Jefferies Downgrades Indian IT Stocks: AI Disruption and Spending Slowdown
Table of Contents
Foreign brokerage firm Jefferies has turned more cautious on Indian IT services stocks, revising its target prices for Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro, and Tech Mahindra. Despite this, Jefferies maintains a preference for Coforge and HCL Technologies over larger peers. This shift in outlook is driven by concerns surrounding “AI-led disruption” and a slower-than-expected recovery in global technology spending.
The Downgrade Details
Jefferies continues to rate Wipro and Tech Mahindra as its least preferred picks, reiterating an ”Underperform” call on both. Infosys and HCLTech have been rated “Buy”, while TCS is on ”Hold”. Here’s a breakdown of the revised price targets:
| Company | Previous Target Price (INR) | Revised Target Price (INR) | Current Rating |
|---|---|---|---|
| TCS | 3,480 | 3,230 | Hold |
| Infosys | 1,860 | 1,750 | Buy |
| HCLTech | 1,850 | 1,680 | Buy |
| Wipro | 235 | 220 | Underperform |
| tech Mahindra | 1,400 | 1,315 | Underperform |
| coforge | [Insert Coforge Target Price – *Find and add this*] | [Insert Coforge Target Price – *Find and add this*] | [Insert Coforge Rating – *Find and add this*] |
Understanding the “AI-Led Disruption”
The core of Jeff