Buy Latent View Analytics; target of Rs 560: ICICI Securities

ICICI Securities is bullish on Latent View Analytics recommended buy rating on the stock with a target price of Rs 560 in its research report dated January 05, 2026.

Broker Research

January 05, 2026 / 11:31 IST

Buy

ICICI Securities research report on Latent View Analytics

We envisage healthy revenue growth of 6% QoQ USD in a seasonally strong Q3 and 50bps QoQ of EBITDA margin expansion, emplacing the company favourably to achieve its 20% YoY USD revenue growth guidance in FY26. Majority of the contract renewals due in the December quarter are likely to be completed without any price/volume drops, setting up well for FY27 growth. We believe, LATENTVI is poised to deliver strong profitable growth over FY27–28E led by strong execution on its 4 key growth bets: 1) mining top accounts; 2) data engineering service line; 3) GenAI and Agentic AI – winning share from IT services peers; and 3) expanding in BFSI, CPG and Retail.

Outlook

We upgrade LatentView Analytics (LATENTVI) to BUY (from Add) with a revised TP of INR 560 (vs. INR 480) on an unchanged P/E of 38x FY28E EPS of INR 14.9 (roll-forward by two quarters).

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