Hold Tata Consultancy Services, target Rs 3,200: Sharekhan

Sharekhan has a hold call on Tata Consultancy Services with a target price of Rs 3,200.

The current market price of Tata Consultancy Services is Rs 3,104.30.

Time period given by the brokerage firm is one year when Tata Consultancy Services price can reach defined target.

"Turnaround in retail, strong y-o-y growth in other verticals (except BFS) and robust outlook in digital indicate FY2019E will be better compared to FY2018, reflecting in the stock price run-up of around 22 per cent in the past six months. However, pick-up in the BFS segment remains the key trigger to double-digit revenue growth in FY2019/FY2020E. The TCS stock trades at 19x FY2020E earnings, factoring in the near-to-medium term positives. We maintain our Hold rating on the stock with a revised price target of Rs 3,200," Sharekhan said in a report.