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Last Updated : Nov 11, 2019 04:46 PM IST | Source: Moneycontrol.com

Buy Persistent Systems target of Rs 680: Sharekhan

Sharekhan is bullish on Persistent Systems has recommended buy rating on the stock with a target price of Rs 680 in its research report dated November 06, 2019.

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Sharekhan's research report on Persistent Systems


Delivered strong revenue growth led by broad-based performance; EBIT margin remained marginally below our expectations. Alliance business delivered strong growth of 6.1%; management sees good opportunities in IBM alliance business. Recent deal wins, new logo additions and yields from rebranding activities to drive revenue growth ahead, however margins to remain under pressure in coming quarters.


Outlook


We upgrade our rating from Hold to Buy on Persistent Systems Limited (PSL) with a revised PT of Rs. 680.

For all recommendations report, click here

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First Published on Nov 11, 2019 04:46 pm
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