TCS Stock Outlook Cautious After Q3 Results; Brokerages Flag Weak Growth Visibility

• TCS stock outlook is cautious to mixed post Q3 FY26 results, with most brokerages avoiding a bullish stance.
• Brokerages like Citi, Nomura, and HSBC flagged limited growth visibility, muted international momentum, and constrained margin upside.
• Citi issued a 'Sell' call with a target of Rs 3,020, citing weak forward indicators and a 4% YoY decline in headcount.
• CLSA maintained an 'Outperform' call with a target of Rs 3,593, highlighting 0.8% constant-currency sequential revenue growth and rising AI revenue.
• TCS reported a 14% YoY fall in Q3 net profit due to exceptional charges, but profit excluding one-offs rose 8.5%.

Why It Matters: TCS faces a cautious stock outlook due to weak growth visibility, despite some positive indicators like AI revenue.