Hold LTIMindtree; target of Rs 5200: SharekhanMoneycontrol • 8 days ago
Sharekhan recommended Hold rating on LTIMindtree with a target price of Rs 5200 in its research report dated April 24, 2024.
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Emkay Global Financial recommended reduce rating on LTIMindtree with a target price of Rs 5000 in its research report dated April 25, 2024.
Prabhudas Lilladher recommended accumulate rating on LTIMindtree with a target price of Rs 5015 in its research report dated April 25, 2024.
The company is focusing on growth rather than margin gains
LTIMindtree's valuations remain premium, and the stock is the most expensive largecap IT stock, along with Tata Consultancy Services, says CITI
"This quarter was a one off, we will return to growth in Q1 of FY25," said LTIMindtree CEO Debashis Chatterjee.
LTIMindtree is expected to have suffered a slight decline in revenue in the final quarter of FY24 due to extended furloughs and certain rampdowns
A compilation of estimates suggests the company's Q4 FY24 net profit is projected to decline by 2.2 percent quarter on quarter to Rs 1,143.1 crore
Macquarie cut its target price on LTIMindtree to Rs 6,250 from Rs 7,050 per share as the merger synergies hit a rough patch.
Aside from the ratings upgrades awarded by JPMorgan, the brokerage also remains overweight on LTIMindtree and Infosys.