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    HomeNewsBusinessStocksHold HCL Technologies; target of Rs 902: Axis Direct

    Hold HCL Technologies; target of Rs 902: Axis Direct

    Axis Direct recommended hold rating on HCL Technologies with a target price of Rs 902 in its research report dated May 17, 2017.

    June 09, 2017 / 10:55 IST
       
       
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      Axis Direct's research report onHCL Technologies

      Multi-mode (Mode 1-2-3) strategy is enabling deeper penetration, market share gains and driving differentiated IP/platform offerings. Management expects Mode 2-3 strategy to contribute 35% of portfolio by FY21 (FY17: 19%).

      Outlook

      We expect USD revenue CAGR of 11% over FY17-19E. In INR terms, our CAGR stands at 12% for revenue, 14% for EBIT and 12% for PAT with an EPS of Rs 65/ Rs 75 for FY18E/FY19E. We rollover our target price to FY19E and value the company at Rs 902 (12x FY19E). Maintain HOLD given 8% upside from CMP of Rs 839. The stock trades at 13x/11x FY18E/19E EPS.

      For all recommendations, click hereDisclaimer: 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.

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      first published: May 22, 2017 04:11 pm

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