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CLSA Cuts Price Targets for Eight IT Stocks, Yet Remains Optimistic
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CLSA Cuts Price Targets for 8 IT Stocks, Remains Optimistic on Sector Growth
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CNBC TV18
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24-02-2026, 08:26
CLSA Cuts Price Targets for 8 IT Stocks, Remains Optimistic on Sector Growth
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CLSA has reduced price targets for eight IT companies: Coforge, HCLTech, Infosys, LTIMindtree, Persistent Systems, TCS, Tech Mahindra, and Wipro.
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Despite cuts, CLSA reiterates "outperform" rating for most, with "high-conviction outperform" for Persistent Systems and Coforge.
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The firm projects a potential 5-10% downside for stock prices, assuming 5% terminal growth in rupee terms.
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CLSA notes no change in IT Services companies' positioning in the AI world and positive management commentary from Infosys.
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Tech Mahindra and Infosys are preferred among largecaps, while Persistent Systems and Coforge are favored midcaps.
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