Mindtree Rating
MACQUARIE ON MINDTREE : 27.05.2021
* MAINTAIN NEUTRAL TARGET: 2,000
* Macquarie is NEUTRAL on Mindtree, target at Rs2,000/sh
* Calibrated Approach On Geo Expansion, Vertical Addition Continues
* Mgmt Reiterated Guidance Of Double digit Rev Growth In FY22
MORGAN STANLEY ON MINDTREE : 27.05.2021
* Maintain Overweight, Target at Rs 2300/share
• Broad-basing of growth in medium term
• Building the next-gen delivery model
• Company confident on maintaining 20%+ EBITDA margins in FY22
• Expect Mindtree to be one of strongest growth companies
• Recovery in TTH vertical, continued strong tailwind
• Have assumed F22 margins in line with Q421 margins
MS ON MINDTREE : 27.05.2021
* MAINTAIN OVERWEIGHT TARGET: 2,300
* Morgan Stanley is OVERWEIGHT on Mindtree, target Rs 2,300/sh
• Positive Outlook On Top Client, & Growth Levers From New Verticals
• Co Confident On Maintaining 20%+ Margin Levels In FY22
