Brokers are betting on the stock of TCS post its quarterly numbers, with several of the brokerage houses either having a "buy" or "accumulate" call on the stock.

"TCS delivered a strong set of performance for 4QFY18 with a beat on USD revenues and PAT. Revenues at USD4972mn were up 3.9% QoQ and 11.6% YoY and above our estimates (PLe: USD4921mn). We value TCS at 21x FY20E EPS (vs 17.5x FY20E earlier) which yields a TP of Rs3380/sh. This represents a 20% upgrade in our target price. Retain Accumulate, " Prabhudas Lilladher wrote in its report.

Sharekhan too is bullish on the stock and has in fact having a higher target of Rs 3,500 on the stock. "We expect TCS to continue to trade at a premium to its peers. Hence, we upgrade our rating on the stock to Buy from Hold with a revised price target (PT) of Rs. 3,500," the brokerage firm has said in its report.

ICICI Direct has a "buy" on the stock of TCS. ICICI Direct recommended hold rating on Tata Consultancy Services with a target price of Rs 3260 in its research report dated April 20, 2018.

"The management commentary on its key vertical such as BFSI and retails also indicate a pick-up in revenue growth in FY19E. However, the acceleration in revenue growth seems to be priced in current valuation (20.5x FY20E EPS). Hence, we maintain our HOLD rating on the stock with a revised target price of Rs 3260 (20x FY20E EPS)," ICICI Direct has said in its report.

It's to be noted that the stock has already run-up sharply.

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