Persistent Systems delivered resilient growth in Q2, but Nomura is maintaining a cautious stance on the stock.
Nomura has maintained a neutral rating on Persistent Systems, with a target price of ₹5,200, which represents a slight upside of just 0.36% from the current market price of ₹5,181.65. Despite strong execution and healthy deal wins, the brokerage remains concerned about the stock’s high valuation at 35.7x FY27 EPS.
While the company shows solid growth prospects, Nomura’s recommendation suggests investors may want to hold rather than buy at current levels.
Disclaimer: The information provided is for informational purposes only and should not be construed as investment advice.
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Persistent Systems