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Motilal Oswal Report
Domestic brokerage firm Motilal Oswal Financial Services has reiterated its 'Buy' rating on LTM Ltd. and raised its target price to Rs 4,900, implying an upside potential of around 21%, following the company's better-than-expected June-quarter performance.
The brokerage increased its target multiple to 21x FY28 estimated earnings from 19 times earlier, citing improving growth visibility and stable margin execution.
Motilal Oswal believes LTM's estimated earnings per share compound annual growth rate of 13% for the next two years remains meaningfully better than that of large-caps.
Productivity pain for key accounts is behind, and this could be positive vs peers in the next couple of years. While growth acceleration remains measured at ~7-8% over FY27-FY28 and the recovery in the top BFSI account recovery is likely to be gradual, strong deal wins and a robust pipeline provide visibility.
The brokerage has raised its estimates by 1-2% for FY27/FY28.
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