Axis Direct recommended hold rating on SQS INDIA BFSI LTD with a target price of Rs 596 in its research report dated February 09, 2017.
Axis Direct's research report on SQS INDIA BFSI LTD
Indian IT players are likely to face challenges due to USA’s provisions to increase minimum wages and 50:50 local hires. Also Brexit is likely to act as an overhang for next few quarters. We revise our earnings estimates downward to Rs 26.2 Cr/ 34.9 Cr from previous estimates of Rs 33.3 Cr/47.6 Cr for FY17E/FY18E respectively. We value the stock at a PE of 18xFY18E EPS and revise target price downward to Rs 596. Downgrade to hold.
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