Brokerage Radar: CLSA ups target on Persistent Systems, Citi maintains 'Buy' on Indus Towers

Check out the latest brokerage calls and analyst comments on the stocks in action today. Our coverage includes Indus Towers, Persistent Systems, Hero MotoCorp and more.

Citi On Indus Towers
Buy Call, Target At `485/Sh
Vodafone Group Plc To Sell Its Balance 3% Stake In Co, Est Total Sale Proceeds At `2,700-2,800 Cr
After Repaying Outstanding Borrowings Of $101 m, Est Residual Proceeds At `1,900-2,000 Cr
Residual Proceeds Would Then Be Infused As Equity By Vodafone Plc Into Voda Idea
Voda Idea Will Use Proceeds For Clearing Its Past Dues To Indus
The Amount Adds Up To `7/Sh For Indus, Which Believe Can Then Be Paid Out As Dividend
Co Could Be In A Position To Pay Out `11-12/Sh Of Dividend For H2FY25
Dividend Could Rise To More Than `20/Sh/annum In FY26 & FY27
There Can Be A Compelling Dividend Yield Of 6% Over FY26-27 At Current Levels

CLSA On Persistent Systems
Outperform Call, Target Raised To `8,462/Sh
Multiple Growth Drivers &Margin Levers Leading To Higher Estimates
Operating In A Different League On The Back Of A Unique Set Of Capabilities
Increase Both Near-term & Longer-term Revenue Growth Forecasts
Forecast A 21% US Dollar Sales CAGR Over FY25-27
Increase EBIT Margin Assumption For FY27 To 16.2% From A Prior 15.5%

CLSA On Juniper Hotels
Initiate Buy Call, Target At `430/Sh
Co Is Largest Owner Of Hyatt Keys In India
A Strong Track Record Of Building Assets With High Entry Barriers
Asset-Owners Like Co Positioned To Benefit From Current Upcycle With Hotel Ind Demand Growth
Hotel Ind Demand Growth May Surpass Supply Growth Over FY24-29
Est 16% EBITDA CAGR Over FY25-27 Led By Improvement In Occupancy & ARR At Grand Hyatt Mumbai