ICICI Direct has given Buy recommendation for Persistent Systems recommended buy rating on the stock with a target price of Rs 4370 in its research rep with a target price of Rs. 4370 in its research report issued on Oct 21, 2022
ICICI Direct’s research report on Persistent Systems
Persistent System (Persistent) offers cloud, data, product & design led services to BFSI, Healthcare & Hi Tech verticals. Persistent had a strong year (FY22) with revenue growth of 35.2% in dollar terms, out of which organic growth was 32.8% • Net debt free and healthy double digit return ratio (with RoCE of 20%).
We maintain BUY rating on the stock. We value Persistent at Rs 4,370 i.e. 26x P/E on FY25E.