Sharekhan recommended hold rating on Persistent Systems with a target price of Rs 720 in its research report dated March 18, 2019.
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.
We downgrade our rating on Persistent Systems Limited (PSL) to Hold from Buy with a revised price target of Rs. 720.
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