BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Religare maintains sell on Mindtree
Religare has maintained "sell" rating on Mindtree with a target priced of Rs 425 compared to Rs 540 earlier. The company has issued a profit warning for Q2 of current fiscal, forecasting a revenue decline and lower margins compared to Q1. Growth challenges and margin pressures are becoming more evident for the company. We cut our target multiple to 12x (from 14x) to arrive at a March 2017 target price of Rs 425.