Reuters Market Eye - Tata Consultancy Services
The company on Friday said seasonal trends to impact Q3 revenue.
Jefferies cuts target to 2,770 rupees from 2,970 rupees, maintains buy.
The investment bank lowers FY16/FY17 EPS estimates by 2.1 percent on cross currency impact.
Cross currency is likely to have a 220 bps negative impact on the Q3 USD reported growth, the bank says in a note.
Jefferies also lowers its target multiple to 20x from 21x to incorporate management's weak commentary.
Barclays cuts EPS estimates for FY15/FY16 by 2 to 3 pct.
($1 = 62.2000 rupees)
(Reporting by Abhishek Vishnoi)
