LTI
MACQUARIE ON L&T INFO : 19.07.2021
* Macquarie has an outperform rating on L&T Info with co as a top pick in midcap Indian IT space
* MAINTAIN OUTPERFORM TARGET: 4,700
* Strong Pipeline & New Client Hunting Position Co Well For FY22
* Expect SG&A To Increase In FY22 For Investment Needs In Cloud & Data Practices
* Raise FY22-24 EPS Estimates By 1-3%
* Co Is Top Pick In Midcap Indian IT Space
GOLDMAN SACHS ON L&T INFO : 19.07.2021
* GS has a Sell call on L&T Info as its finds valuations expensive
* Increase Revenue Growth Forecasts By Up To 3% On Back Of Q1 Beat
* Lower Our Margin Assumptions Due To Tight Labour Market
• Valuations Expensive At Current Levels
* MAINTAIN SELL TARGET: 3,587
CITI ON L&T INFO : 19.07.2021
* Citi maintains Sell rating on L&T Info
* Delivered An In-line Quarter
* Attrition Spike, Sharp Decline In Margin & No Large Deals Key Challenges
* Continue To Like Co For Its Mgmt Team & Growth Track Record
* Expectations & Valuations Are Elevated
* MAINTAIN SELL TARGET: 3,870
KOTAK INSTL EQ ON L&T INFO : 19.07.2021
* Kotak Instl Eq retains its Sell stance on L&T Info
* Good Quarter With QoQ Growth Of 4.8% In CC, Powered By Volume Growth Of 8.8%
* EBIT Margin Declined Sharply Due To Wage Revisions, S&M Investments
* Deal Wins Were Soft But Compensated By Discretionary Spending By Clients
* Well Positioned To Capture Market Opportunities
* Poised For Another Strong Year After Industry Leading Growth In FY21
* MAINTAIN REDUCE TARGET: 4,100
MS ON L&T INFO : 19.07.2021
* MS has an Equal-weight call on L&T Info, expects stock to be range-bound
* MAINTAIN EQUAL-WEIGHT TARGET: 4,250
* Risk-reward Not As Favorable As That Of Other Midcaps/ Large Caps
• Turn In Insurance & Energy Verticals Offset By Lack Of Large Deals & Weak Margin
* Expect Stock To Be Range-bound
GS ON L&T FIN HOLDINGS : 19.07.2021
* GS maintains Buy call on L&T Fin. It expects co to diversify towards higher return generating retail biz over long term
* Marginal Operating Miss; Disbursements Bounced Back In June
* View Diversification Towards Higher Return Generating etail Biz Over Long Term
* Key Risks Are Lack Of Clarity On Strategic Direction, Asset Quality Challenges
* MAINTAIN BUY TARGET: 128
