23 Feb 2026 | 3 Mins Read
Jefferies Downgrades Six IT Stocks Due to AI Concerns
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Jefferies downgraded six IT stocks due to changing business mix, citing AI's impact on managed services. Downgrades include: Infosys (₹1,290), HCLTech (₹1,390), Mphasis (₹2,450), LTIMindtree (₹4,300), TCS (₹2,350), and Hexaware Technologies (₹460). Jefferies cut price targets by up to 33% and EPS estimates 1-4%.