Buy Persistent Sys; target of Rs 780: Prabhudas Lilladher

Prabhudas Lilladher's report on Persistent SystemsPersistent Systems (PSYS’) Q2FY16 performance was largely in‐line. We believe that EBIT margins have bottomed out and IP led revenues which have been soft for past few quarters will benefit from the launch of new product by Q4FY16. Company has been able to significantly scale up revenues from enterprise customers and we see this as a medium term positive. Retain our ‘BUY’ rating with TP of Rs 780.Valuation & Recommendation - Retain BUY with TP of Rs 780: We tweak our estimates marginally and roll forward TP to Sep‐16, says Prabhudas Lilladher research report.For all recommendations, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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