ICICI Securities Recommends 'Buy' on Latent View Analytics, Sets INR 560 Target

• ICICI Securities upgrades Latent View Analytics to 'BUY' from 'Add' with a revised target price of INR 560.
• The company anticipates healthy 6% QoQ USD revenue growth in Q3 and 50bps QoQ EBITDA margin expansion.
• Latent View is positioned to achieve 20% YoY USD revenue growth in FY26, with strong FY27 growth expected from contract renewals.
• Profitable growth over FY27–28E is driven by mining top accounts, data engineering, GenAI/Agentic AI, and expansion in BFSI, CPG, Retail.
• The target price is based on an unchanged P/E of 38x FY28E EPS of INR 14.9, rolled forward by two quarters.

Why It Matters: ICICI Securities sees strong growth for Latent View Analytics, upgrading it to 'BUY' with a INR 560 target.