CLSA keeps Outperform on LTIMindtree with ₹5,755 price target
Business
CLSA thinks LTIMindtree (LTM) has major growth potential, keeping its Outperform rating and setting a price target of ₹5,755, about 42% higher than its last closing price.
Even though LTM shares dropped 6.6% recently during an IT sector slump, CLSA is still confident about the company's future.
LTIMindtree plans revenue doubling with AI
LTM's stock hasn't performed great this past year (down 9.1%), but the company is aiming to double its revenue in five years and boost profit margins by FY31.
A big part of their plan centers on artificial intelligence: LTM even teamed up with Cisco to launch an AI-powered cloud security solution.