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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.

October 28, 2020 / 01:21 PM IST
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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.


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


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first published: Oct 28, 2020 01:21 pm
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