CLSA has maintained an Outperform rating on Tata Consultancy Services with a target price of Rs 3,593, implying 39% upside. The brokerage sees scope for a Rs 35 Q4 dividend and a potential buyback.
CLSA has turned positive on TCS, betting on strong SaaS demand, ServiceNow-led enterprise AI adoption, dividend backing and buyback expectations to fuel the next leg of the rally.