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Last Updated : May 02, 2019 03:13 PM IST | Source:

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 April 30, 2019.

Broker Research @moneycontrolcom
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Sharekhan's research report on Persistent Systems

Revenue meets modest expectation, adjusted margins ahead of estimates. Net profit beats, led by higher other income and lower tax. The new leadership team will focus on sales resources, business structure and new areas in the digital space, which will drive growth in FY2020E; however, the success is yet to reflect in numbers. The ongoing buyback programme along with 29% of market cap in cash would lend support to the stock price.


Given soft earnings growth over the next two years coupled with lack of re-rating trigger, we maintain our Hold rating on Persistent Systems Limited (PSL) with a revised PT of Rs. 720.

For all recommendations report, click here

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First Published on May 2, 2019 03:13 pm
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