Jefferies lifts targets on Infosys and TCS, sees IT upside
In short
Jefferies raised target prices for Infosys and TCS and said Indian IT stocks still have upside. It sees more than 20% rerating potential for Infosys and TCS, and more than 50% in a best-case case for Sagility.
This matters because investors may see more room for these stocks to rise. The report also says the wider IT growth outlook is still muted.
What the reporting says
Jefferies raised target prices for Infosys and TCS and said Indian IT stocks still have valuation upside, with Infosys and TCS showing over 20% rerating potential and Sagility possibly offering more than 50%, according to the market summaries. The brokerage cited scope for growth expectations to stabilise despite a muted sector growth outlook. The immediate consequence is a more positive valuation call on selected IT names, while the broader growth outlook remains soft.
Why it matters
Jefferies raised target prices for Infosys and TCS and highlighted valuation upside in Indian IT stocks, including more than 20% rerating potential for both and more than 50% in a best-case scenario for Sagility. The brokerage said growth expectations may stabilise even though the sector’s growth outlook is muted. The available reporting does not specify the new target prices or any broader sector-wide rating change.