Mindtree's (MTCL) Q3FY19 revenue and operating margins were in line with estimates. Revenues from the top client stayed strong but that from the top 6-10 clients declined by 2.5% QoQ. Deal-win TCV was uninspiring though management commentary was relatively more positive than last quarter. We trim FY20E/FY21E EPS by 0.3%/1.7% and pare our target one-year forward P/E multiple from 20x to 17x on waning growth momentum. Upon rollover to Dec'19, our target price reduces from Rs 1,120 to Rs 1,010. Maintain ADD....