Revenue from TDCX’s top two clients, which make up 47% of its total revenue, declined 21% y-o-y on reduced seat volumes, according to Woo.
Following the New York Stock Exchange-listed TCDX’s 3QFY2023 results ended Sept, analysts from PhillipCapital and CGS-CIMB Research have lowered their target prices to US$8.60 ($11.49) and US$6.20 respectively.
Jonathan Woo of PhillipCapital has kept his “buy” call, while Ong Khang Chuen and Kenneth Tan of CGS-CIMB have maintained their “hold”.
