TCS

Share Price Target, Q4FY26 Review: Deal wins support outlook, brokerages flag slow growth, margin discipline

Tata Consultancy Services’ March-quarter performance has drawn a largely balanced response from brokerages, with strong deal wins and steady margins offset by lingering concerns around revenue momentum and macro uncertainty. While analysts remain constructive on TCS’ long-term positioning and AI-led opportunities, most have trimmed target prices to reflect slower growth expectations for FY27 and beyond, keeping the stock firmly on watch for investors. The brokerage maintains Ass with a target price of Rs 3,000 Revenue growth of 1.2 percent QoQ constant currency in line with estimates Margins improved to 25.3 percent highest in eight quarters Strong deal wins with USD12bn TCV in Q4 and USD40.7bn for FY26 Growth visibility improving led by BFSI manufacturing and consumer verticals AI revenue at USD2.3bn indicating scaling adoption Expect revenue CAGR of 4.8 percent and EPS CAGR of 7 percent over FY26 to FY28