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Buy Persistent Systems: target of Rs 5550: Sharekhan

Sharekhan is bullish on Persistent Systems has recommended buy rating on the stock with a target price of Rs 5550 in its research report dated April 28, 2022.

April 30, 2022 / 11:40 AM IST
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Sharekhan's research report on Persistent Systems

Persistent Systems beat estimates; Q4 witnessed strong deal TCVs, robust net headcount additions, and strong client mining; ACV remained strong at $943.1 million in FY2022. Revenue growth would be supported by broad-based demand, robust deal intake, client mining, and incremental revenue from acquisitions. PSL is well positioned to once again deliver market-leading growth in FY2023. Management remains confident of delivering sustainable margin in FY2023 on strong revenue growth, flattening pyramid, and gradual increase in realisation.


We retain Buy with a PT of Rs. 5,550, given strong revenue growth potential, robust ACV, and building growth avenues via tuck-in acquisitions.


For all recommendations report, click here

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first published: Apr 30, 2022 11:40 am
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