Buy TeamLease Services, target Rs 3,100: JM Financial

JM Financial has a buy call on TeamLease Services with a target price of Rs 3,100.

The current market price of TeamLease Services is Rs 2,635.30.

Time period given by the brokerage is one year when TeamLease Services price can reach the defined target.

"After the sluggish growth in general staffing witnessed in FY18, the company is back on track with its growth trajectory. Expanding its business model while maintaining growth in its core business should temper volatility in earings. Looking beyond temporary fluctuations in profitability, we maintain BUY with a Mar’19 target price of Rs 3,100 with a PEG of 1.35x, in-line with global staffing peers," JM Financial said in a report.
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