Buy Persistent Systems; target of Rs 1000 : Sharekhan
Sharekhan is bullish on Persistent Systems has recommended buy rating on the stock with a target price of Rs 1000 in its research report dated July 27, 2020.
July 30, 2020 / 03:31 PM IST
Sharekhan's research report on Persistent Systems
PSL delivered a strong set of numbers, with beat on all financial fronts; deal signings remained strong. We believe growth momentum in Technology Services would continue in FY2022Eled by large deal signings, new logo addition, prudent client mining strategy and a healthy deal pipeline. Cash and cash equivalents account for 23% of its current market capitalisation; strong balance sheet and potential strong earnings growth potential provide us comfort on the stock.
We retain our Buy rating on Persistent Systems Limited (PSL) with a revised PT of Rs. 1,000.
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.