Buy Tech Mahindra; Target Of Rs 1000: Sharekhan
Sharekhan is bullish on Tech Mahindra has recommended buy rating on the stock with a target price of Rs 1000 in its research report dated October 23, 2020.
Oct 27, 2020 / 04:01 PM IST
Sharekhan's research repor on Tech Mahindra
Performance was better than expected on all parameters. TechM impressed with strong margin expansion, healthy FCF generation and pickup in deal TCVs. Management expects double digit growth over next couple of years on the back of anticipated growth in enterprise segment, potential 5G opportunities and strong deal wins. TechM is well placed to benefit from the expansion of 5G value chain across networks and IT services; expect TechM’s USD revenue/earnings to clock a CAGR of 10.5%/15.5% over FY2021-FY23E.
We maintain our Buy rating on Tech Mahindra (TechM) with a revised PT of Rs. 1000.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.