Pending — not yet graded
“Has a 'sell' rating on TCS with a target price of ₹1,825, implying a 20% downside. While the deal may appear to have a lower enterprise value/EBIT, Citi notes the risk of revenue decline and points out that peers trade at similar or higher EV/EBIT multiples. Such deals, while supporting near-term growth, often increase the risk of the existing book declining annually.”
TCSBearishCalled 25 Aug 2026
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