HSBC maintains its buy rating on L&T Technology Services (LTTS) with a target price of ₹6,000. The brokerage views Q3 as a decent quarter despite a marginal downward revision in FY25 guidance, which remains challenging. Key highlights include:
- The integration of Intelliswift is seen as margin dilutive and poses a downside risk to consensus estimates.
- Better-than-expected synergies from the acquisition could act as a positive catalyst.
- LTTS is considered to have one of the best ER&D capabilities in the sector and trades at reasonable relative valuations.
The stock’s current market price (CMP) is ₹4,870.
Disclaimer: This report is for informational purposes only and should not be considered as financial advice. Please consult your financial advisor before making any investment decisions.
