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Last Updated : Mar 20, 2019 04:00 PM IST | Source: Moneycontrol.com

Hold Persistent Systems; target of Rs 720: Sharekhan

Sharekhan recommended hold rating on Persistent Systems with a target price of Rs 720 in its research report dated March 18, 2019.

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Sharekhan's research report on Persistent Systems


Growth in digital business to continue gaining momentum in Q4FY2019, as the company hires personnel with the right skills for digital offerings, ramps up new deals and demand improves. Appointment of new CEO would strengthen company’s relationship with the IBM and create new growth avenues in engineering segment. Margins to remain under pressure on higher investments in sales, a talent crunch and currency headwinds.


Outlook


We downgrade our rating on Persistent Systems Limited (PSL) to Hold from Buy with a revised price target of Rs. 720.


For all recommendations report, click here


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




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First Published on Mar 20, 2019 04:00 pm
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