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Buy Larsen and Toubro Technology Services: target of Rs 4650: Sharekhan

Sharekhan is bullish on Larsen and Toubro Technology Services has recommended buy rating on the stock with a target price of Rs 4650 in its research report dated September 02, 2021.

September 03, 2021 / 09:13 AM IST
 
 
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Sharekhan's research report on Larsen and Toubro Technology Services


LTTS aims to focus on six strategic areas with strong demand. A customer-centric approach, strong execution and long-standing relationship with clients would help LTTS to capture emerging opportunities. The management eyes $1-billion in annual revenues by Q2-Q3 of FY2023, which translates to a 3.3-4% CQGR. Further, in the long term, it eyes $1.5 billion in revenue in FY2025. We expect USD revenue/EPS to clock a CAGR of 19%/ 28%, respectively, over FY2021-24E. Management aims to achieve 18% EBIT margin by FY2025, aided by higher revenue growth, improving margins in the hi-tech vertical and change in revenue mix.


Outlook


We maintain a Buy on L&T Technology Services (LTTS) with a PT of Rs. 4,650, given its strong clientele, full spectrum of services and strong demand in the digital engineering space.


For all recommendations report, click here

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first published: Sep 3, 2021 09:13 am

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