Tata Consultancy Services Ltd shares rallied on July 2, 2026 and outperformed the broader market

$TCS while analyst sentiment remained mixed. Nomura cut its price target to ₹2,570 from ₹2,930 but kept a Buy rating, while Morgan Stanley downgraded the stock to Equal-Weight from Overweight with a ₹2,200 target. The stock has also been volatile in recent months, with earlier weakness following a rare annual revenue decline that overshadowed quarterly earnings beats and deal wins.