Maintain ‘Accumulate’ on TCS for target of Rs 880: Dolat Capital

MUMBAI: Dolat Capital has maintained ‘Accumulate’ on Tata Consultancy Services following robust first quarter performance by the company. The brokerage expects the stocks to hit target of Rs 880 in next 12 months.

“We continue to remain positive on TCS and expect the stock to outperform other large IT peers. We maintain our ‘Accumulate’ rating on the stock with a target price of Rs 880, valued at 22x of FY11E EPS of Rs.39.9,” the report said.