Motilal Oswal has reiterated a "BUY" rating for LTIMindtree, with a target price of INR 7,400, suggesting a potential upside of 19%.

The company's management expressed their ambitions to achieve USD 10 billion in revenue and an EBIT margin of 17-18% during the Investor Day 2024 event. However, they did not provide specific details regarding the timeline and strategy.

LTIMindtree highlighted their strengths in data engineering and ERP modernization, positioning themselves to take advantage of investment opportunities before the GenAI era. Despite challenges related to margin expansion and unrealized merger synergies, the outlook for LTIMindtree remains positive due to the expected growth in demand from BFSI clients for transformation projects.

The valuation is based on a multiple of 35 times the estimated earnings per share for September 2026, which reflects confidence in the company's strategic direction and market positioning.