ICICI Direct has given Hold recommendation for MindTree with a target price of Rs. 5055 in its research report issued on Jan 17, 2022

ICICI Direct’s research report on MindTree

Mindtree Ltd (Mindtree) is a mid-tier IT company with a presence in the US, Europe & RoW catering to BFSI, communication media & technology, retail & travel. • Expertise in infrastructure & application catering to Global 2000 clients • Leading margins (>20%) compared to mid-tier IT companies.

Outlook

We maintain HOLD rating on the stock . We value Mindtree at Rs 5,055 i.e. 40x P/E on FY24E.

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