While AI jitters continue to keep IT investors on edge, CLSA downgraded several heavyweight stocks and revised their target prices, although it remains bullish on several mid-tier IT vendors.
CLSA, in its latest note, highlighted that Q1 earnings were a mixed bag for Indian IT and global peers. Basic Excel math does imply that AI volumes could supersede deflation by FY30, taking USD revenue growth from low to mid-single digits, the international brokerage said.
