ICICI Direct has given Buy recommendation for Larsen and Toubro Infotech with a target price of Rs. 5065 in its research report issued on Jul 17, 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 presence in North America & Europe • LTI has grown at 14% CAGR over FY18-21 with robust margins (~19%).
We value LTI at Rs 5065 i.e. 35x P/E on FY23E EPS.