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Buy L&T Infotech; target of Rs 6850: Sharekhan

Sharekhan is bullish on L&T Infotech has recommended buy rating on the stock with a target price of Rs 6850 in its research report dated October 18, 2021.

October 19, 2021 / 11:20 AM IST
 
 
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Sharekhan's research report on L&T Infotech


Q2 numbers beat our estimates on all fronts; deal TCVs and deal pipeline were robust, client metrics healthy across categories, while offshoring and net headcount addition stayed high. OCF/net profit stayed healthy at 91%. Strong demand is led by rising spend of transformation initiatives, spend on newer technologies and increasing opportunities on automation. The management expects strong demand to sustain at least for next three years. Strong hiring, investments in sales and capabilities, right market strategies and excellent execution positions LTI for sustainable growth over FY2022-FY2024E. We expect revenue/EPS to clock 15%/16% CAGR over FY2022-24.


Outlook


We maintain a Buy on LTI with a revised PT of Rs. 6,850 given its strength in addressing digital transformation spends, robust deal wins and robust demand.


For all recommendations report, click here

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first published: Oct 19, 2021 11:20 am

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