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    Nifty IT index stocks: Has the worst been priced in?

    Synopsis

    In the case of IT stocks is that while the analysts have “buy” recommendations on a large number of them, however their price targets are clearly either very modest, or in a number of cases analysts are expecting that the valuations of IT stock are still high and there is room for further decline in prices. 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.

    Given the high institutional holding, IT stocks tend to have a very strong and long phase of directional movement. After remaining under pressure for a long time, IT stocks had seen an up move post TCS results. After this brief phase of upward movement, these stocks once again came under pressure as they had been doing in the past two quarters. If one goes by analyst estimates, it appears that they still believe that it was just a short covering
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    The Economic Times