If one looks at the recommendations of analysts, it appears that all of sudden they are finding everything wrong with IT stocks. Of the ten stocks, only two are buy and one stock which till few quarters back was considered a must have in a portfolio is now having a sell recommendation. Patience is something which a contrarian investor needs to have and the fact is that it is a rare commodity in bullish times. Stock Reports Plus, powered by Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks – earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores.
If there is one sector where there is a consensus among the analysts that stocks are not to be bought at this point of time, it is the IT sector. While they are shying away from giving sell recommendations, the mean price target is clearly showing they expect IT stocks to slide from current levels. This becomes important because amongst the first set of companies which are going to declare the result for the Q2 of FY 24 would be large cap IT
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