Webinar :Register now for webinar on 'Trade BankNifty in just 15 minutes a day'
Last Updated : May 10, 2020 02:03 PM IST | Source: Moneycontrol.com

Buy Persistent Systems Limited target of Rs 650: Sharekhan

Sharekhan is bullish on Persistent Systems Limited has recommended buy rating on the stock with a target price of Rs 650 in its research report dated May 06, 2020.

Broker Research
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Sharekhan's research report on Persistent Systems Limited


PSL delivered steady performance in a tough environment; revenue declined by 1.8% q-o-q owing to drop in IP-led revenue, while margin expanded by 41bps q-o-q, led by lower marketing expenses and rupee depreciation. Growth momentum in Technology Services Unit (TSU) would continue on account of new logo addition and a healthy deal pipeline. Cash and cash equivalents account for 38% of its current market capitalisation; reasonable valuation and high cash and cash equivalents are expected to provide downside support to the stock price.


Outlook


We retain our Buy rating on Persistent Systems Limited (PSL) with a revised PT of Rs. 650, given its reasonable valuation.


For all recommendations report, click here


Disclaimer: 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.

First Published on May 10, 2020 02:03 pm
Sections