Shares of Persistent Systems surged by 2% today, reaching a new 52-week high of ₹6,148. This jump comes after leading brokerage firm CLSA raised its target price for the stock to ₹8,462, maintaining an ‘Outperform’ rating.
CLSA’s report highlighted Persistent Systems’ unique capabilities, positioning the company for significant growth. The brokerage has forecast a 21% compounded annual growth rate (CAGR) for U.S. dollar revenue over the FY25-27 period, indicating a promising financial outlook for the company.
CLSA also raised its EBIT margin estimates for FY27 to 16.2%, up from 15.5%. The revision is based on the company’s stronger-than-expected operational leverage and potential for margin expansion in the coming years.
The stock opened today at ₹6,130.60 and hit a high of ₹6,148, marking a new 52-week high. On the downside, the lowest price touched during the day was ₹6,082. Over the past year, the stock has experienced a substantial rally, with a 52-week low of ₹3,135.40.
As of 10:13 am, Persistent Systems shares were trading 1.68% higher at Rs 6,112.30 on the NSE.
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