UBS has raised the FY22-FY23 earnings forecast by seven percent on average. However, the firm sees limited scope for valuation upside or for earnings upside from current levels. Hence UBS has a very cautious view on the entire IT sector.

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Within stocks, UBS has a neutral rating on Infosys, Wipro and Tata Consultancy Services (TCS) with a target price of Rs 1,450, Rs 470 and Rs 3,345 respectively and has downgraded HCL Technologies to sell with a target price of Rs 855.

CNBC-TV18’s Nimesh Shah has more details.

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(Edited by : Ajay Vaishnav)

First Published:Feb 22, 2021 10:30 AM IST