Info Edge India gains after Goldman Sachs upgrades to 'buy'

Info Edge (India)

22/11/2024 05:42

** Online services provider Info Edge India  INED.BO  climbs
5.42%; set to gain for third straight week
    ** Goldman Sachs upgrades to "buy" from "sell"; raises PT
from 5,700 rupees to 8,600 rupees, 8.5% upside to stock's
current price of 7,922.75 rupees
    ** Sees co's recruitment rev growing at 16% CAGR in FY25-28
on better-than-expected outlook on growth/hiring by large-cap IT
companies in its coverage vs 8% in FY23-25
    ** Forecasts 17% CAGR for overall rev in FY25-28 and 24%
CAGR for EPS in the same period
    ** Stock up 46.2% this year, as of last close  

 (Reporting by Ananta Agarwal in Bengaluru)
 ((Ananta.Agarwal@thomsonreuters.com))