JM Financial is bullish on Oracle Financial has recommended buy rating on the stock with a target price of Rs 4480 in its research report dated March 06, 2018.
JM Financial 's research report on Oracle Financial
We upgrade Oracle Financial Services Software (OFSS) to BUY on a 19% upside. The stock’s participation in the broader IT sector rally over the last two months has been restricted by muted 3QFY18 results; it has also under-performed global peers over this period. However, given management’s commentary of a robust deal pipeline + a seasonally stronger period ahead, we find current levels attractive to play to its structural strengths.
Outlook
We also raise our FY19/FY20E EPS by 6.6%/6.8% on superior margin management. Our revised INR 4,480 TP (INR 4,020 earlier) is on a 20x implied target PER (unchanged).For all recommendations report, click here
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