L&T Technology Services: ICICI Securities Downgrades to 'Reduce' with Rs 4,110 Target Price
ICICI Securities has downgraded L&T Technology Services to 'reduce' with a target price of Rs 4,110, citing concerns over margin pressure due to the Intelliswift acquisition. Although the company has reported strong revenue growth, the uncertain outlook for the automotive sector has led to a cautious stance. With the integration of Intelliswift, L&T Technology Services faces challenges in maintaining its profit margins, leading to a reduction in its stock rating. This move may impact the company's stock performance in the short term, making it essential for investors to reassess their portfolios and consider the potential risks. Key factors such as revenue growth and sector trends will be crucial in determining the company's future prospects.
