Goldman Sachs cuts target for TCS stock from INR 2,410 to INR 2,370

Tata Consultancy Services (INE467B01029) saw Goldman Sachs cut the target for TCS stock from INR 2,410 to INR 2,370 in coverage published October 8, 2026, according to ET Now. The brokerage retained its Buy rating as TCS moved through its September-quarter results cycle.

Goldman target moves lower

Goldman Sachs kept its Buy view but lowered the target by INR 40, a 1.66 percent cut from INR 2,410. The adjustment puts the revised target at INR 2,370 and reflects the tension between strong deal activity and slower revenue conversion.

The same ET Now report said Citi cut its target from INR 1,965 to INR 1,825 while Nuvama reduced its target from INR 3,350 to INR 3,000. The split shows that margin resilience alone has not settled the debate over TCS growth.

Q2 figures reset expectations

TCS reported Q2 FY27 net profit of INR 138.84 billion, up 7.60 percent year over year, while revenue reached INR 731.88 billion, up 11.20 percent, according to ET Now. The board also announced an INR 12 interim dividend.

For comparison, TCS reported Q1 FY27 revenue of USD 7.624 billion, net income of USD 1.460 billion and a 19.2 percent net margin on its investor-relations page. Annualized AI revenue reached USD 2.6 billion in that quarter, up 13.6 percent sequentially, according to TCS.

Market value and listing

TCS had a market capitalization of INR 7.5 trillion as of October 8, 2026. StockAnalysis identifies Tata Consultancy Services Limited as NSE:TCS, with the National Stock Exchange of India as its exchange and Information Technology Services as its industry.

The company operates across cloud, artificial intelligence, data and analytics, cybersecurity, consulting and enterprise services. The next market test is whether the Q2 revenue result and AI expansion can support stronger revenue conversion after the target reductions.

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