TCS, Infosys, Wipro see price targets slashed by Jefferies as AI shift clouds outlook

September 12, 2025

Jefferies has cut price targets for TCS, Infosys, Wipro, HCLTech, and Tech Mahindra amid AI-driven disruption and slow global tech spending. While preferring Coforge and HCLTech, the brokerage warns that large-cap IT valuations already reflect optimism, advising selective exposure amid near-term demand softness.

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Polycab shares slide 17% in 3 months amid Ultravolt shock, but Jefferies sees 33% upside. What’s behind the bullish view?

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