ICICI Direct has given Buy recommendation for Larsen and Toubro Infotech recommended buy rating on the stock with a target price of Rs 7650 in its research repo with a target price of Rs. 7650 in its research report issued on Dec 10, 2021

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 14% CAGR over FY18-21 with robust margins (~19%).

Outlook

We remain positive on the stock and maintain BUY rating. We value LTI at Rs 7,650 i.e. 45x P/E on FY23E EPS.

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