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HCLTECH Share Price Target

HCL Technologies Ltd.
Sector: Information Technology
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HCLTECH Share Price *
1,092 +5.2 (0.48%)
* (quote may be delayed)
HCLTECH Share Price Forecast - Consensus
No. of reports in last year
37
No. of analysts
15
Average Consensus Forecast
1198.97
Consensus Potential
8.82%

HCLTECH Share Price Target - Broker Reports - 2019

Axis Direct
11-Oct-19
Price @ Call: 1076.69
Target: 1250
BUY

Prabhudas Lilladher
18-Sep-19
Price @ Call: 1062
Target: 1210
BUY
We believe HCLT now has broad-based, diversified business model with multiple engines firing simultaneously to deliver industry leading organic growth in FY20E. We believe a limited understanding of the financial impact of 7 software products acquired from IBM was one of the factors for HCLT underperformances over its peers in past, with the clarity of treatment & strong broad-based organic growth with sustained margin performance makes stock extremely attractive and worth an investment at inexpensive 12X FY21E earnings. We expect USD revenue CAGR of ~12.1% over FY19-21E with earnings CAGR of ~8.4%. we maintain our Buy rating (GARP - growth at reasonable price) valuing HCLT at 14X FY21E earnings (30% discount to Infosys, 60% discount to TCS target multiple) & arrive at a TP of Rs. 1210. Stock is currently trading at 13x FY20E EPS and 12X FY21E EPS. Our EPS estimates stands for FY20E/FY21E stands at Rs 77.2/ Rs 86.4.
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Sharekhan
17-Sep-19
Price @ Call: 1057.78
Target: 1250
BUY
Maintain Buy: HCL Tech is expected to deliver strong organic growth among large peers in FY2020E, led by robust organic growth (14% y-o-y CC) in Q1FY2020, large addressable opportunity in IMS, and strong growth in the ERS business. Further, investments in digital technology would help the company build digital competencies, which would provide a sustainable growth momentum going forward. However, we believe aggressive capital allocation towards the product business remains a risk to its business model and the integration of recent acquisitions remain a primary focus area. At the CMP, the stock trades at 14x/13x its FY2020E/FY2021E earnings estimates, which look attractive and is at a discount to peers despite better revenue growth. We maintain our Buy rating on the stock with an unchanged PT of Rs. 1,250.
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Axis Direct
9-Sep-19
Price @ Call: 1101.5
Target: 1235
BUY
We have corrected our volume estimates for FY20 and now expect a revenue CAGR of 1%over FY19-21E (earlier 12%) and PAT CAGR of -6% FY19-21E (earlier 11%). We have also cut down our P/E multiple for AAL to 13XFY21E (5 year forward mean -1 STD is 12.4X) to arrive at a target price of Rs 931. We recommend a BUY rating and advise investors to BUY in a staggered manner for better entry price in current market volatility.
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Karvy Stock Broking
3-Sep-19
Price @ Call: 1117.4
Target: 1243
HOLD
While we are positive about revival in HCLT’s organic growth from a low of 5%to a guidance of around 7-9% on the back of large deals won in the recent past, delay in revival of IMS and ER&D businesses would be a drag. However, we believe impending pressure on margins and concerns on ability of the company to generate revenues from newly acquired IPs from IBM, would keep a check on the stock. Also, given the fact that it has outperformed broader IT index in the recent past, we recommend a “HOLD” on the stock with a target price of Rs.1243, anupside potential of 13%. We value HCLT at 1SD of 3-Yr historical average FY21EPE of 14.1x.
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Axis Direct
22-Aug-19
Price @ Call: 1069.2
Target: 1235
BUY
Healthy deal wins, higher growth in key business verticals will put HCL Tech on high growth trajectory. We assign 13.8x P/E multiple to its FY21E earnings of Rs. 89.5 per share which gives a target price of Rs. 1,235 per share, an upside of 15%.
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Nirmal Bang
14-Aug-19
Price @ Call: 1074.49
Target: 1127
ACCUMULATE
Acceleration in revenue in FY20 is based on its strengths in implementation of hybrid cloud, its automation skillsets, IoT and core engineering capabilities to execute integrated full-stack deals. HCLT’s commentary seems cautiously optimistic and against the 2H driven growth indicated a quarter back, the company is not building in a strong 2H, a source of comfort. The big kicker in FY20 will be incremental IP-related revenue from the deal signed with IBM. Post 1QFY20 results, we reiterate our Accumulate rating on HCLT with a March 2020E target price (TP) of Rs1,127.
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Sharekhan
13-Aug-19
Price @ Call: 1087.05
Target: 1250
BUY
Organic growth to remain strong, maintain Buy: We havefine-tuned our earnings estimates for FY2020E/FY2021E, factoring in miss in operating profitability and higher tax provision. Ramp-up of largedeals won earlier and healthy deal pipeline along with large addressable opportunity in IMS provides visibility of acceleration in organic revenue in FY2020E. However, we also acknowledge aggressive capital allocation towards the product business remains a risk to the company’s business model. At the CMP, the stock trades at 13x/12x its FY2020/FY2021 earnings estimates, which look attractive considering better revenue growth versus peers over FY2019-FY2021E. We maintain our Buy rating on the stock with an unchanged PT of Rs. 1,250.
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Prabhudas Lilladher
8-Aug-19
Price @ Call: 1022.3
Target: 1210
BUY
We believe strong deal wins in earlier years coupled with healthy outlook for BFSI & IMS will help HCLT to achieve higher end of organic guidance. We believe HCLT is focusing on broad-based growth (e.g megadeal in BPO segment, investing in digital competencies) will reduced its dependence on IMS growth. We believe management is conservative on revenue guidance on account of weak & volatile external environment & have enough cushion to meet any potential slowdown in spending. HCLT has the potential to achieve the industry leading organic growth in FY20E. HCLT is trading at inexpensive valuations of ~11.8x FY21E valuations, we maintain our Buy rating (GARP- growth at reasonable price) valuing HCLT at 14X FY21E earnings (30% discount to Infosys, 60% discount to TCS target multiple) & arrive at a changed TP of Rs. 1210. Stock is currently trading at 13.2x FY20E EPS and 11.8x FY21E EPS.
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Prabhudas Lilladher
13-May-19
Price @ Call: 1086.05
Target: 1186
BUY

ICICIdirect.com
13-May-19
Price @ Call: 1086.05
Target: 1190
HOLD

HDFC Securities
10-May-19
Price @ Call: 1088.48
Target: 1250
BUY

Nalanda Securities
10-May-19
Price @ Call: 1088.48
Target: 1250
BUY

Sharekhan
10-May-19
Price @ Call: 1088.48
Target: 1250
BUY

Dolat Capital
10-May-19
Price @ Call: 1088.48
Target: 1230
ACCUMULATE

Reliance Securities
9-May-19
Price @ Call: 1125.37
Target: 1280
BUY
Near-term 1QFY20 performance will remain subdued as mentioned above, while the company takes on further balance sheet risk in an attempt to boost growth. At this point, valuation support remains the only positive aspect for the stock. We maintain our BUY rating on HCLT with a revised TP of Rs1,280 (Rs1,195) as we roll over to FY21, even as we expect the stock to move southward in the near-term given the above- mentioned issues.
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Edelweiss
20-Mar-19
Price @ Call: 1034.6
Target: 1300
BUY

Axis Direct
13-Feb-19
Price @ Call: 1061
Target: 1235
BUY

Dolat Capital
4-Feb-19
Price @ Call: 1045.56
Target: 1350
BUY

Reliance Securities
2-Feb-19
Price @ Call: 1034.02
Target: 1195
BUY

Angel Broking
2-Feb-19
Price @ Call: 1034.02
Target: 900
REDUCE

HDFC Securities
1-Feb-19
Price @ Call: 1034.02
Target: 1260
BUY

ICICIdirect.com
31-Jan-19
Price @ Call: 1016
Target: 1090
HOLD

Prabhudas Lilladher
30-Jan-19
Price @ Call: 988.1
Target: 1170
ACCUMULATE

Motilal Oswal
30-Jan-19
Price @ Call: 988.1
Target: 1105
NEUTRAL

Karvy Stock Broking
11-Jan-19
Price @ Call: 931.33
Target: 1167
BUY

HDFC Securities
7-Jan-19
Price @ Call: 942.85
Target: 1255
BUY

HCLTECH Share Price Target - Broker Reports - 2018

Nirmal Bang
14-Dec-18
Price @ Call: 978.5
Target: 1329
BUY

AnandRathi
12-Dec-18
Price @ Call: 958.9
Target: 1182
BUY

Prabhudas Lilladher
8-Dec-18
Price @ Call: 956.63
Target: 1100
ACCUMULATE

ICICIdirect.com
7-Dec-18
Price @ Call: 956.63
Target: 1045
HOLD

Edelweiss
7-Dec-18
Price @ Call: 956.63
Target: 1300
BUY

Motilal Oswal
7-Dec-18
Price @ Call: 956.63
Target: 1100
NEUTRAL

Geojit Financial Services
30-Oct-18
Price @ Call: 1000.29
Target: 1106
BUY

Motilal Oswal
24-Oct-18
Price @ Call: 952.75
Target: 1090
NEUTRAL

Prabhudas Lilladher
23-Oct-18
Price @ Call: 980.05
Target: 1255
BUY

AnandRathi
22-Oct-18
Price @ Call: 960.75
Target: 1182
BUY

Sharekhan
11-Sep-18
Price @ Call: 1090.04
Target: 1215
BUY

JM Financial
30-Jul-18
Price @ Call: 953.69
Target: 1190
BUY

Investec Securities
30-Jul-18
Price @ Call: 963.7
Target: 1100
BUY

Dolat Capital
30-Jul-18
Price @ Call: 963.7
Target: 1340
BUY

ICICIdirect.com
30-Jul-18
Price @ Call: 953.69
Target: 1050
HOLD

HDFC Securities
30-Jul-18
Price @ Call: 953.69
Target: 1155
BUY

Prabhudas Lilladher
28-Jul-18
Price @ Call: 960.37
Target: 1100
BUY

Motilal Oswal
28-Jul-18
Price @ Call: 960.37
Target: 1100
NEUTRAL

Edelweiss
27-Jul-18
Price @ Call: 960.37
Target: 1300
BUY

Motilal Oswal
13-Jul-18
Price @ Call: 1005.3
Target: 1040
NEUTRAL

Antique Stock Broking
3-May-18
Price @ Call: 1001.05
Target: 1030
BUY

Motilal Oswal
3-May-18
Price @ Call: 1001.05
Target: 1050
NEUTRAL

Edelweiss
3-May-18
Price @ Call: 1001.05
Target: 1225
BUY

Sharekhan
2-May-18
Price @ Call: 1013.53
Target: 1120
BUY

Prabhudas Lilladher
2-May-18
Price @ Call: 1013.53
Target: 1100
ACCUMULATE

JM Financial
22-Mar-18
Price @ Call: 938.3
Target: 1140
BUY

Reliance Securities
22-Feb-18
Price @ Call: 940.6
Target: 1150
BUY

Prabhudas Lilladher
20-Jan-18
Price @ Call: 957.01
Target: 1020
BUY

Dolat Capital
19-Jan-18
Price @ Call: 957.01
Target: 1000
ACCUMULATE

HCLTECH Share Price Target - Broker Reports - 2017

JM Financial
14-Dec-17
Price @ Call: 866.85
Target: 1030
BUY

ICICIdirect.com
26-Oct-17
Price @ Call: 907
Target: 930
HOLD

Edelweiss
26-Oct-17
Price @ Call: 907
Target: 1041
BUY

Motilal Oswal
26-Oct-17
Price @ Call: 907
Target: 970
NEUTRAL

HDFC Securities
26-Oct-17
Price @ Call: 873.83
Target: 1000
BUY

Choice Equity Broking
25-Sep-17
Price @ Call: 881
Target: 1020
BUY

Reliance Securities
4-Sep-17
Price @ Call: 865.2
Target: 985
BUY

ICICIdirect.com
28-Jul-17
Price @ Call: 890
Target: 930
HOLD

Angel Broking
28-Jul-17
Price @ Call: 891
Target: 1014
BUY

HDFC Securities
28-Jul-17
Price @ Call: 890
Target: 980
BUY

Edelweiss
27-Jul-17
Price @ Call: 890
Target: 1058
BUY

Nirmal Bang
23-Jun-17
Price @ Call: 847.15
Target: 713
SELL

HDFC Securities
12-May-17
Price @ Call: 839
Target: 950
BUY

ICICIdirect.com
12-May-17
Price @ Call: 850
Target: 930
HOLD

KRChoksey
12-May-17
Price @ Call: 839
Target: 1068
BUY

Edelweiss
11-May-17
Price @ Call: 844.13
Target: 1058
BUY

Motilal Oswal
11-May-17
Price @ Call: 839
Target: 960
BUY

Reliance Securities
11-May-17
Price @ Call: 839
Target: 963
BUY

Kotak Securities
21-Mar-17
Price @ Call: 861.05
Target: 840
SELL

ICICIdirect.com
21-Mar-17
Price @ Call: 858
Target: 950
BUY

Axis Direct
31-Jan-17
Price @ Call: 806.48
Target: 880
HOLD

Geojit Financial Services
30-Jan-17
Price @ Call: 840
Target: 947
BUY

KRChoksey
25-Jan-17
Price @ Call: 848
Target: 985
BUY

ICICIdirect.com
25-Jan-17
Price @ Call: 850
Target: 950
BUY

Edelweiss
24-Jan-17
Price @ Call: 849
Target: 1058
BUY

Religare
24-Jan-17
Price @ Call: 857.3
Target: 925
BUY

Dolat Capital
24-Jan-17
Price @ Call: 850
Target: 1000
BUY

Motilal Oswal
24-Jan-17
Price @ Call: 844.78
Target: 980
BUY

HCLTECH Share Price Target - Broker Reports - 2016

Choice Equity Broking
9-Dec-16
Price @ Call: 803
Target: 930
BUY

Moneylicious
25-Nov-16
Price @ Call: 801
Target: 945
BUY

Nirmal Bang
24-Oct-16
Price @ Call: 831.05
Target: 718
SELL

KRChoksey
24-Oct-16
Price @ Call: 831.05
Target: 909
ACCUMULATE

ICICIdirect.com
24-Oct-16
Price @ Call: 831.05
Target: 950
BUY

Religare
21-Oct-16
Price @ Call: 815.55
Target: 890
BUY

Prabhudas Lilladher
21-Oct-16
Price @ Call: 835.5
Target: 1005
BUY

Dolat Capital
21-Oct-16
Price @ Call: 831
Target: 1000
BUY

Centrum
21-Oct-16
Price @ Call: 832
Target: 980
BUY

Reliance Securities
27-Aug-16
Price @ Call: 780.05
Target: 980
BUY

Motilal Oswal
26-Aug-16
Price @ Call: 782.95
Target: 940
BUY

Edelweiss
24-Aug-16
Price @ Call: 790
Target: 1065
BUY

Angel Broking
10-Aug-16
Price @ Call: 816.5
Target: 1000
BUY

Prabhudas Lilladher
29-Jun-16
Price @ Call: 719.3
Target: 890
BUY

Prabhudas Lilladher
26-Jun-16
Price @ Call: 742
Target: 890
ACCUMULATE

Prabhudas Lilladher
17-Jun-16
Price @ Call: 750
Target: 890
ACCUMULATE

Reliance Securities
29-Apr-16
Price @ Call: 795
Target: 980
BUY

ICICIdirect.com
29-Apr-16
Price @ Call: 800
Target: 950
BUY

Prabhudas Lilladher
28-Apr-16
Price @ Call: 800
Target: 930
ACCUMULATE

ICICIdirect.com
6-Apr-16
Price @ Call: 840
Target: 1000
BUY

  • HCLTECH - Share Price Target Potential

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    BrokerageTargetPotential
    Axis Direct1,25013.06%
    Prabhudas Lilladher1,21010.18%
    Sharekhan1,25013.06%
    Karvy Stock Broking1,24312.57%
    Nirmal Bang1,1273.57%