October 1, 2014 / 4:38 AM / 3 years ago

MindTree falls; brokers downgrade on valuations

Reuters Market Eye - MindTree(MINT.NS) falls 0.39 percent on brokers' downgrades.

Goldman Sachs cuts rating to "sell" from "neutral."

Says current valuation "leaves hardly any room for the already stretched expectations to disappoint."

Credit Suisse downgrades to "neutral" from "outperform".

Says "strong share price performance makes valuations rich."

MindTree trading at 17 times 1-year forward earnings vs 16.2 times for rivals - Thomson Reuters Data.

Stock up 54.6 percent in 2014 vs CNX IT index's .CNXIT 18.8 percent gain.

Reporting by Abhishek Vishnoit

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