Comments
Shares of Persistent Systems Ltd today gained 2.5 per cent as CLSA has begun coverage on the stock with a “buy’’ rating and fixed a target price of Rs 1,000.
It says that the company is a closest digital pure play among Indian IT companies.
The brokerage adds that the company can expand its addressable market beyond a hi-tech vertical that can power revenue CAGR from 14 per cent over FY12-15 to 17 per cent during FY15-18.
The stock has 12 “buy’’, 8 “hold’’ and 8 “sell’’ ratings, according to Thomson Reuters data.
The shares trade at 18.6x of 1-year forward earnings vs 16.7x for rivals.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.