ICICI Direct has given Buy recommendation for Persistent Systems with a target price of Rs. 5075 in its research report issued on Apr 30, 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 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%).

Outlook

We maintain BUY rating on the stock. We value Persistent at Rs 5,075 i.e. 36x P/E on FY24E.

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