LTIMindtree It is one of the worst performing IT stocks in the last year i.e. 2024. However, now brokerage firms seem bullish on this stock. Global brokerage firm Jefferies has issued a double upgrade for this IT stock citing attractive valuations. The brokerage has doubled LTIMindtree to ‘Buy’ from its previous rating of ‘Underperform’. The company’s shares closed today on January 6 at Rs 5730.60 with a decline of 0.08 per cent. Its market cap is Rs 1.69 lakh crore.
Brokerage Opinion on LTIMindtree
Brokerage firm Jefferies has also increased its target price for shares of LTIMindtree. The brokerage has increased it from ₹5450 to ₹6650. This means that there is a possibility of a rise of about 16 percent in the shares of LTIMindtree. The share has corrected about 15% from its record high of Rs 6764.80 in December 2024.
LTIMindtree plan
At an analyst meet held in November 2024, the company said it expected to achieve revenues of $10 billion by 2031-32, up from $4.3 billion in fiscal 2024. The management also expects to achieve this target on an organic basis by FY 2032. The company is focusing on growing key verticals like BFSI and tech and also plans to expand manufacturing, resources, health care, life sciences and consumer verticals three times.
Analyst opinion on LTIMindtree
LTIMindtree shares were among the worst performers of 2024. It declined by 10% during the calendar year. Of the 42 analysts covering the stock, 24 have given a ‘Buy’ rating to the stock, while seven have given a ‘Hold’ rating, and 11 have recommended selling the stock.
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