Sharekhan bullish on Persistent Systems has recommended buy rating on the stock with a target price of Rs 820 in its research report dated April 24, 2018.
Sharekhan's research report on Persistent Systems
PSL reported a 4.6% q-o-q decline in revenue to $117 million, in line with our estimates, owing to lower IP revenue. Management remains hopeful for revenue acceleration in FY2019, given the strong digital deal pipeline and traction for its IP products. We expect gradual recovery in margins, given higher growth in IP revenue as well as digital business.
Outlook
We maintain our Buy rating with a revised price target of Rs.820.
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.