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Last Updated : Sep 18, 2018 03:35 PM IST | Source:

Buy Persistent Systems; target of Rs 1200: Dolat Capital

Dolat Capital is bullish on Persistent Systems has recommended buy rating on the stock with a target price of Rs 1200 in its research report dated July 12, 2018.

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Dolat Capital's research report on Persistent Systems

PSYS reported revenue growth of 5.4% YoY in FY18; software services revenue (contri. 74%) grew by 8.9% YoY in FY18 to ` 22.6bn compared to ` 20.7bn in the previous year, while IP led revenue which contributes 26% of the total revenue declined 3.6% YoY to ` 7,766mn compared to ` 8,060mn in FY17. Increase in earnings by 7% YoY to ` 40.4 during the year was on account of higher other income despite lower EBIT margins.

We maintain our BUY rating with TP of ` 1,200 based on 15.5x one yr. fwd. PER.

For all recommendations report, click here

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First Published on Jul 13, 2018 05:18 pm
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