ICICI Direct has given Buy recommendation for Larsen and Toubro Infotech recommended buy rating on the stock with a target price of Rs 5525 in its research rep with a target price of Rs. 5525 in its research report issued on Oct 16, 2022
ICICI Direct’s research report on Larsen and Toubro Infotech
Larsen & Toubro Infotech (LTI) offers application development, IMS, digital solution services to BFSI, retail, health, media & hi-tech verticals. LTI has 71 Fortune-500 clients with a presence in North America & Europe • LTI has grown at 19% CAGR over FY17-22 with robust margins (>19%).
Outlook
We changed the rating from HOLD to BUY. We value LTI at Rs 5,525 i.e. 26x FY25E EPS.