Buy Larsen and Toubro Infotech: target of Rs 4625: Sharekhan
Sharekhan is bullish on Larsen and Toubro Infotech has recommended buy rating on the stock with a target price of Rs 4625 in its research report dated January 05, 2021.
January 14, 2021 / 08:54 PM IST
Sharekhan's research report on Larsen and Toubro Infotech
We expect LTI to deliver USD revenue growth of 5.5% q-o-q in Q3FY2021, beating the industry, with stable EBIT margin q-o-q. Similarly, over FY2020-FY2023E, the company is likely to record industry-leading USD revenue/EPS CAGR of 17%/20%, led by ramp-up of large deals, strong growth in digital business, steady deal wins and strong execution. Management eyes net margins of 14-15% in coming years despite investments and possible acquisitions, led by higher offshoring, enhanced productivity, better cost management and hedging strategy.
We stick to our Buy rating on L&T Infotech (LTI) with a PT of Rs. 4,650, anticipating that it would clock industry-leading growth.
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