IT Stocks Face Crisis: Jefferies Slashes Target Prices of 6 Major Companies by Up to 33%

• Jefferies downgrades ratings and cuts target prices for 6 Indian IT companies by up to 33%.
• Infosys, HCLTech, Mphasis, LTIMindtree, TCS, and Hexaware Technologies are affected.
• AI's impact on business models, shifting from managed services to consulting, cited as a key reason.
• EPS estimates reduced by 1-4% for these companies, indicating increased risk.
• Despite year-to-date falls, downside risk still outweighs upside potential; Coforge, Sagility, IKS Health are top picks.