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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.

Jul 30, 2020 / 03:31 PM IST
 
 
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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.



Outlook


We retain our Buy rating on Persistent Systems Limited (PSL) with a revised PT of Rs. 1,000.





For all recommendations report, click here


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first published: Jul 30, 2020 03:31 pm

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