LTIMindtree's shares rose to Rs 6,262 on November 27 after the company announced its goal of achieving $10 billion in revenue by the fiscal year 2031-32 at an analyst meet.
However, brokerages expressed caution due to challenges in discretionary spending that could impact short-term growth. Nomura maintained a "reduce" rating on LTIMindtree with a target price of Rs 5,140 per share, while acknowledging potential upside risks from large deal wins and better-than-expected margin expansion.
On the other hand, Morgan Stanley issued an "overweight" rating with a target price of Rs 7,050 per share, citing positive sales momentum, a strong deal pipeline, and new client acquisitions despite the pressures on discretionary spending.