Axis Direct is bullish on Zensar Technologies has recommended buy rating on the stock with a target price of Rs 990 in its research report dated June 12, 2017.
Axis Direct's research report on Zensar Technologies
Zensar has taken several measures to align itself to changing client spends. It is looking to reskill 7,000 employees through training on Digital offering. Earlier, where employees could take 4-5 years to train themselves on new technologies, the cycle time now is down to 4-5 months (the management believes this can be scaled down further).
We expect revenue of USD 485 mn/ USD 544 mn in FY18E/FY19Ewith EBITDA margin at 13%/ 14%. Expect FY18E/ FY19E EPS of Rs 61 / Rs 76. Our TP stands at Rs 990 (13x FY19E EPS). Maintain BUY with 13% upside from CMP of Rs 874. The stock trades at 14.4x/11.5x FY18E/FY19E EPS.
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