Upcoming Webinar :Register now for 'ULIP as an investment during economic recovery' powered by Bajaj Allianz

Buy Persistent Systems; Target Of Rs 1450: Sharekhan

Sharekhan is bullish on Persistent Systems has recommended buy rating on the stock with a target price of Rs 1450 in its research report dated October 26, 2020.

Oct 28, 2020 / 01:21 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Sharekhan's research repor on Persistent Systems


Q2 numbers beat estimates on all fronts; deal signings remained strong for all verticals; we believe appointment of Mr. Sandeep Kalra as CEO is a positive given his proven track record. Management remains optimistic that Alliance business would return to growth trajectory on the back of cross-selling opportunities; targets annual revenue of over $1 billion over next 4 years. Cash & cash equivalents account for 19% of its current market-cap; expect USD revenue/earnings to clock a CAGR of 13%/20% over FY2021-FY23E, led by strong deal wins, cross-selling opportunities & margin expansion.


Outlook


We retain our Buy rating on Persistent Systems Limited (PSL) with a revised PT of Rs. 1,450, as we expect strong earnings growth over FY2021-23E.


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.

Broker Research
first published: Oct 28, 2020 01:21 pm

stay updated

Get Daily News on your Browser
Sections