Brics PCG Research recommends TCS at Rs 1,607 with a target price of Rs 2,076. The stock trades at 20.9x and 17.8x on FY07E and FY08E earnings of Rs 77 and Rs 90.3 respectively.The stock has witnessed significant correction of 15.6 % since the announcement of its Q4FY06 earnings. The company has acquired two new clients in the South American region with a total deal value of over $30 million in the areas of BPO and IT operations.
