LTIMindtree shares surge over 3% despite 1% YoY decline in Q1 PAT. Here's what analysts say
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Shares of LTIMindtree on Thursday surged 3.5% on BSE to its day high of Rs 5,754 despite the company reporting a 1.5% year-on-year (YoY) rise in consolidated net profit at Rs 1,134 crore for the quarter ended June 30, 2024. The revenue from operations for the reported quarter stood at Rs 9,143 crore, higher by 5% YoY over Rs 8,702 crore reported in the corresponding quarter of the last financial year. Here is what analysts have to say about the Q1 results: Jefferies: Underperform | Target price: Rs 4,920 Jefferies has an underperform rating on LTIMindtree and has hiked the target price to Rs 4,920 from Rs 3,960. Q1 results were on the expected lines. Revenue growth revival across key verticals may be seen while the growth outlook seems to be improving. There are limited levers for margin expansion. Investec: Sell | Target price: Rs 5,370 Investec has maintained a sell rating on the stock and hiked the target price to Rs 5,370 from Rs 4,64...