
Citi has reiterated its ‘sell’ rating on Tech Mahindra, lowering the target price to ₹1,440 from ₹1,475. The brokerage highlighted that EBIT came in 4% below its expectations, reflecting ongoing challenges in the sector.
Citi has also revised its FY25-27 earnings per share (EPS) estimates downward by 3-4%, citing a tough sector backdrop and high market expectations that could prove difficult to meet.
At the current market price (CMP) of ₹1,657.65, the revised target price implies a 13.1% downside, underscoring Citi’s cautious stance on the stock.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Readers are advised to consult with their financial advisor before making any investment decisions.