TCS missed Q1 revenue estimates as most verticals declined; brokerages cut price targets, citing weak FY26 start.

• Sales fell in 4 of 6 verticals, dragging early trade shares down ~2%; analysts slash price targets slightly.
• Jefferies and JP Morgan note weak demand and lower discretionary spending as key concerns impacting performance.
• Morningstar flags economic uncertainty, while BOBCaps sees further weakness despite a steady Q4 outlook.