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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
 
 
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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.


Outlook


We maintain our Buy rating on Tech Mahindra (TechM) with a revised PT of Rs. 1000.


For all recommendations report, click here


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first published: Oct 27, 2020 04:01 pm

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