Moneycontrol PRO
Live: Commodity Markets Live: Coffee Prices Are Steaming Up; Here's Why

Buy Persistent Systems: target of Rs 4160: Sharekhan

Sharekhan is bullish on Persistent Systems has recommended buy rating on the stock with a target price of Rs 4160 in its research report dated September 28, 2021.

September 29, 2021 / 02:13 PM IST
  • bselive
  • nselive
Todays L/H

Sharekhan's research report on Persistent Systems

We forecast PSL’s USD revenue to grow by 8% q-o-q to $180 million in Q2FY2022, led by broad-based demand and a recovery in IP-led revenues. We expect deal TCVs to stay healthy in Q2. We expect USD revenue/earnings to clock a CAGR of 20%/30% over FY2021-FY2024E, led by broad-based demand, robust deal TCVs, healthy deal pipeline, and new logo additions. EBITDA margin is expected to decline by 50 bps q-o-q to 15.9% in Q2 despite wage revision, aided by strong revenue growth, improving utilisation and higher IP revenue. Attrition is also likely to inch up.


We retain a Buy on Persistent Systems Limited (PSL) with an unchanged PT of Rs. 4,160, given strong earnings growth potential, healthy cash generation and M&A opportunities.


For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Sep 29, 2021 02:13 pm
ISO 27001 - BSI Assurance Mark