MINDTREE
14.01.2022 - MS on Mindtree - Maintain Equal-Weight CMP 4760 Target 5100
14.01.2022 - CITI on Mindtree - Maintain Sell CMP 4760 Target 3650
14.01.2022 - GS on Mindtree - Maintain Sell CMP 4760 Target 4117
14.01.2022 - Nomura on Mindtree - Maintain Neutral CMP 4760 Target 4640(Prev Target 4480)
14.01.2022 - Nomura on Mindtree - Maintain Neutral CMP 4760 Target 4744
CITI ON MINDTREE : 14.07.2021
* MAINTAIN SELL TARGET: 2,215
* Citi maintains Sell call on Mindtree due to rich valuations
* Reported Good Q1, Revenue Ahead, EBITDA In-line & Bookings Healthy
* Cashflow Generation Was Weak In Q1
* Revise Estimates By 2-3% & Raise Multiple To 27x
* Client Concentration & Risk To Margins Are Key
* Valuations Appear Rich at Current Levels
GS ON MINDTREE : 14.07.2021
* MAINTAIN BUY TARGET: 2,863
* GS has a Buy rating on Mindtree with an expectation of 20.5% CC revenue growth in FY22
* Strong $ Revenue Growth Of 7.7% Led By Broad based Growth Across Verticals
• Orderbook Is At The Highest Ever
* Expect 20.5% CC Revenue Growth For Co In FY22
MS ON MINDTREE (CMP: 2,505) : 14.07.2021
* MS has an Overweight rating on Mindtree, but it says high multiples & limited EPS estimate upgrades limit absolute upside
* MAINTAIN OVERWEIGHT TARGET: 2,800
* Revenue Growth & Margin Stronger Than Expected
• Broadening Growth Profile & Improving Revenue Visibility Augur Well
* High Multiples & Limited EPS Estimate Upgrades Limit Absolute Upside
