HDFC Securities is bullish on Intellect Design Arena has recommended buy rating on the stock with a target price of Rs 226 in its research report dated February 13, 2017.
HDFC Securities' research report on Intellect Design Arena
We maintain our positive stance backed by (1) its highly-rated and diversified product portfolio, (2) marquee client list, (3) huge addressable opportunity, and (4) only around 20% of current product portfolio in monetisation stage. We cut our US$ revenue estimates by 6.6/13.8% for FY17/18E to factor in deal deferrals. Maintain BUY with a TP of Rs 226 based on a 2.5x Dec-18 EV/revenue multiple.
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