CLSA Cuts Targets for 8 IT Stocks, But Sees Long-Term Opportunity Amidst AI Confidence

• Global brokerage CLSA has reduced target prices for 8 leading IT sector stocks including Infosys, TCS, and Wipro.
• Despite short-term pressure, CLSA maintains an 'Outperform' rating on most companies, with Wipro rated 'Hold'.
• Persistent Systems and Coforge are in the 'High-Conviction Outperform' category, indicating strong confidence.
• Target cuts are attributed to valuation pressure if terminal growth assumptions don't account for market share gains.
• CLSA remains confident in the long-term due to strong AI positioning, positive management statements, and better organic growth guidance from global peers.