India's L&T Tech rises after upbeat FY25 rev outlook

L&T Technology Services

28/08/2024 07:15

** Shares of India's L&T Technology Services  LTEH.NS  up 2%
    ** Co expects FY25 revenue in the range of $1.26 bln-$1.28
bln vs analysts' avg estimate of $1.25 bln, as per LSEG data
    ** Nuvama Research raises TP to 5,200 rupees from 5,050
rupees and retains "hold"; says LTEH "high on aspirations" 
    ** Brokerage Antique, says company's outlook is improving;
hikes TP to 5,000 rupees from 4,750 rupees but maintains "hold" 
        ** Antique and Nuvama both expect FY25 rev of $1.24 bln
  
    ** Avg rating of 23 analysts covering the stock is "sell" -
LSEG data
    ** Stock trading at 5,537 rupees, ~24% higher than the
median TP of 4,450 rupees
    ** Stock up 7% YTD, less than Infosys's  INFY.NS  26% jump
and TCS's  TCS.NS  ~20% gain
    
($1 = 83.9490 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))