Street upgrades earnings, target prices of TCS, Infosys

Upsides for Wipro is least among the three IT majors

Barring Wipro, which was the top loser among Sensex stocks, shedding 6 per cent on Thursday, brokerages have given the thumbs up to the results of India’s tier-1 IT services companies.

Stocks of Tata Consultancy Services (TCS) and Infosys were up a per cent each as analysts upgraded their earnings estimates and target prices. While Infosys beat expectations across most parameters and was the only one to do so, TCS had a mixed bag. Wipro lagged the market leaders, undershooting expectations across key metrics.

Infosys delivering a constant currency revenue growth of 7 per cent in the third quarter (Q3), twice what