July 16, 2012 / 5:28 AM / 5 years ago

MARKET EYE-Goldman trims 2012 global tech spending forecast

* Goldman Sachs trims its global technology spending forecast to
3 percent from 4 percent for calendar year 2012 after its June
annual survey of the industry.
* Goldman says expects lower GDP growth in advanced economies
and a lower global fixed investment forecast.
* Investment bank says survey results consistent with its views
for "modest" fiscal 2012-13 earnings for Indian IT services
large caps: forecasts 10 percent U.S. dollar revenue growth vs
18 percent in fiscal 2012 ended in March.
* Goldman prefer HCL Technologies, reiterates "buy"
rating, on expectations for better growth and revenue after $2.5
billion in deals over the past six month. 
* Adds HCL Tech trading at a 22-23 percent discount to its
eight-year historic average and other large caps.


 (manoj.dharra@thomsonreuters.com)

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