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Buy LTIMindtree; target of Rs 4940: ICICI Direct

ICICI Direct is bullish on LTIMindtree recommended buy rating on the stock with a target price of Rs 4940 in its research report dated January 22, 2023.

January 24, 2023 / 07:52 PM IST
 
 
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ICICI Direct's research report on LTIMindtree

LTIMindtree (LTIM) is the merged entity formed after the merger of erstwhile Mindtree with LTI. It offers application development, IMS, digital solution services to BFSI, retail, health, media & hi-tech verticals. LTIM has 750+ clients and combined annual revenue over US$3.5 bn + • LTIM has a combined employee strength of 86,000+ across 30+ countries.

Outlook

We maintain our BUY rating on the stock. We value LTIM at Rs 4,940 i.e. 24x FY25E EPS.