TDCX upgraded to Overweight from Neutral at JPMorgan

JPMorgan analyst Ranjan Sharma upgraded TDCX to Overweight from Neutral with a price target of $7.40, down from $9.80, as the firm believes it is pricing in business continuity risks from GenAI. In contrast, JPMorgan believes TDCX should continue growing its revenues and earnings. While GenAI presents risks of pricing deflation and automation, the CX industry could offset that with increasing outsourcing. TDCX should also benefit from rising content moderation in social media, the firm says.