Motilal Oswal Has Maintained Its 'neutral' Stance On Mindtree

Motilal Oswal has maintained its 'neutral' stance on Mindtree after the company posted its Q4 results. The brokerage has set the target price at Rs 1,000 for the stock.

"Our revenue/earnings estimates are largely unchanged after the results. Over FY19-21, we expect USD revenue CAGR of 12.4 percent and earnings CAGR of 17 percent. MTCL trades at 18.4/15.5x FY20/21E earnings. Our TP of Rs 1,000 discounts forward earnings by 16x and implies an upside of 3 percent," it said.

However, Prabhudas Lilladher has advised to 'REDUCE' the stock with a target price at Rs 873. It added that weakening TCV may narrow Mindtree's growth multiple.

For more information ✆ +91- 6232578593 or visit www.moneymarketmanthan.com