Goldman Sachs lowers Indian IT stocks’ targets amid US economic uncertainty, favoring TCS over LTIMindtree.

Goldman Sachs, a leading investment bank, has recently revised its price targets for Indian IT stocks, foreseeing a decrease in revenue growth as a result of economic uncertainty in the United States. This adjustment particularly affects companies such as LTI and Mindtree, which heavily rely on revenue from the US market. However, TCS appears to be in a more favorable position according to the brokerage. The downgrade comes as a response to ongoing challenges faced by the IT sector, including subdued discretionary spending and the possibility of project delays caused by macroeconomic conditions. Goldman Sachs’ decision reflects a cautious outlook on the performance of Indian IT companies in the near future.

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