HCLTech slides 4% after disappointing FY26 guidance but brokerages sees 23% upside. Here’s why

HCL Technologies might have started the day on a sour note with its shares price slipping over 4% post Q1FY26 results, but leading brokerages are not ready to hit the panic button. Despite missing margin expectations, brokerage firms like Motilal Oswal, Nomura, and Jefferies remain bullish, offering price targets that suggest up to 23% upside from current levels.

Let’s break down what is driving this optimism even amid short-term pressure.