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Buy Persistent Systems; target of Rs 5075: ICICI Direct

ICICI Direct is bullish on Persistent Systems has recommended buy rating on the stock with a target price of Rs 5075 in its research report dated April 30, 2022.

May 03, 2022 / 09:55 AM IST
 
 
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ICICI Direct's research report on Persistent Systems


Persistent System (Persistent) offers cloud, data, product & design led services to BFSI, Healthcare & Hi Tech verticals • Persistent had a strong year with revenue growth of 35.2% in dollar terms, out of which organic growth was 32.8% • Net debt free and healthy double digit return ratio (with RoCE of 20%).



Outlook


We maintain BUY rating on the stock. We value Persistent at Rs 5,075 i.e. 36x P/E on FY24E.

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first published: May 3, 2022 09:55 am
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