LTIMindtree share price: CLSA sees more than Rs 500 gain per share - check target

LTIMindtree share price NSE: Shares of LTIMindtree Ltd, NSE: LTIM, declined on Thursday, December 15. The stock opened at Rs 4446 on NSE, marginally up from previous close of Rs 4443.15. The selling in the counter dragged it to hit day's low of Rs 4366.

Meanwhile, brokerage firm CLSA has tagged 'outperform' rating on the stock. It has set a price target of Rs 4920. 

CLSA in its report said that the new $10 Bn+ market cap plays with a superior growth outlook. 

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"Balance sheet is healthy and institutional ownership is low vs peers. It’s an attractive structural play. Full valuation & integration risks could limit upside," the brokerage firm said in its report.

Earlier this month, LTIMindtree shares listed on the exchange after the merger of Larsen & Toubro Infotech and Mindtree.

LTIMindtree Share Price History

The share of LTIMindtree has slumped in the past 5 sessions by 3 per cent. At current levels, the company has a market cap of Rs 1.28 lakh crore. The stock has a 52-week range from Rs 4,450 - Rs 4,380.

The Mumbai-based company after its merger has become the country's 5th largest software firm with a revenue of USD 5.25 billion this year.

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