Streetview: Brokerages optimistic on TCS' FY26 growth

** India's Tata Consultancy Services TCS posted Q3 results below estimates on Thursday but pointed to improvement in client spending environment; shares up 4.2% at 4,204 rupees

** At least 6 brokerages raised their target price post results; median PT now at 4,548 rupees from 4,535 rupees a month ago - LSEG data

IMPROVING DISCRETIONARY SPENDING ENVIRONMENT

** HSBC ("Hold"; PT 4,540 rupees) says management commentary provides confidence for FY26

** CLSA (upgrades to "Outperform" from "Hold"; raises PT to 4,546 rupees from 4,251 rupees) sees multiple growth triggers ahead, aggressive campus hiring is a sign of improved macro demand

** UBS ("Buy"; cuts PT to 4,750 rupees from 4,850 rupees) is "bullish" on TCS, says management has delivered positive commentary

** Nomura("Neutral"; cuts PT to 4,020 rupees from 4,039 rupees) says client decision making cycle, discretionary demand improving