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MINDTREE’s profit grew by more than 16%, what is the report of brokerage houses on the stock

MS has set a target of Rs 4250 by giving Equal-weight rating on MINDTREE

Mindtree’s results were better than expected. The company’s profit growth was more than 16%. The company’s doller revenue increased by 12.75%. On a quarter-on-quarter basis, the company’s profit in the second quarter stood at Rs 399 crore, up 16.2 per cent. At the same time, it was estimated at Rs 358 crore in CNBC-TV18 poll. Whereas in the first quarter of the same financial year, the company’s profit stood at Rs 343.4 crore.

BROKERAGES ON MINDTREE

MS’s opinion on Mindtree

MS has given Equal-weight Rating on MINDTREE and has fixed the target of Share from Rs.4500 to Rs.4250. He says that the company has got better results than expected. The company has done good commentary regarding revenue. However, margins are likely to be impacted in the second half.

UBS’s opinion on Mindtree

UBS has given a sell rating on Mindtree with a target of Rs 3550 for the stock. He says the company’s top clients and sluggish TCV growth have raised concerns.

Wipro’s doller revenue increased by about 7%, know the opinion of the veteran brokerage on the stock

GS’s opinion on MINDTREE

GS has given sell rating on MINDTREE and has a target of Rs 3784 for the stock. The company has shown good results but there are concerns about valuations. They have raised its EPS estimate for FY22-26.

MACQUARIE’s Opinion on MINDTREE

MACQUARIE has rated UNDERPERFORM on MINDTREE and has a target of Rs 3,900 for the share. He says earnings in Q2 were better than expected but concerns about valuations remain.

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