Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
11,274.20569.4
Stock Analysis, IPO, Mutual Funds, Bonds & More

Buy MindTree, target Rs 1225: Motilal Oswal

Buy MindTree Ltd. at a price target of Rs 1225.0 .

ETMarkets.com|
Updated: Jul 23, 2018, 03.02 PM IST
0Comments
ThinkStock Photos
buysell3
Motilal Oswal has a buy call on MindTree Ltd. with a target price of Rs 1225.0 . The current market price of MindTree Ltd. is Rs 955.5 Time period given by the brokerage is a year when MindTree Ltd. price can reach defined target. MindTree Ltd., incorporated in 1999, is a largecap company with a market cap of Rs 16023.08 crore.

Investment rationale by Motilal Oswal
We expect MTCL to grow its USD revenue/EPS at a CAGR of 17/37% over FY18-20. The stock trades at 23/17x FY19/20E EPS on our revised earnings. MTCL’s strong revenue momentum, in our view, will also help its margins in the quarters to come. As a result, we have increased our price target to INR1,225, which discounts forward earnings by 19x. Peers such as MPHL, HEXW and LTI continue trading in the range of 17-21x FY20E earnings. Maintain Buy.
Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
Disclaimer: This recommendation is analyst's own and does not represent those of economictimes.com & ETMarkets.com. Please consult your financial advisor before taking any position in the stock/s mentioned.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service