Global brokerage firms such as Nomura upgraded their rating for TCS to BUY. Morgan Stanley, Credit Suisse and Nomura also raised their 12-month target price for India's largest software services exporter by revenue. TCS reported the strongest revenue growth in the last 15 quarters in Q4FY19. Vineeta Sharma, Head of Research at Narnolia Financial Advisors in a note said that TCS has over the years outperformed Infosys for two basic reasons—higher sales growth and higher margins. TCS continues to command a higher margin though sales growth has become comparable.