India's Persistent Systems gains; Macquarie reiterates 'outperform' on positive earnings outlook

Persistent Systems

16/06/2025 10:14

** Shares of Persistent Systems PERS.NS rise 2.3% to 6,018.5 rupees apiece

** Macquarie reiterates its "outperform" rating; reduces price target to 7,330 rupees from 7,710 rupees due to moderation in the IT sector

** New PT still implies an upside of 25.5% to stock's current price

** Remains second-highest among 32 analysts tracking PERS with an average "hold" rating, data compiled by LSEG shows

** PERS' organic revenue growth in fiscal 2025 at 18.1% in dollar terms was better than its IT peers, says Macquarie

** Adds, with strong organic growth, management's adherence to its revenue targets for fiscal 2027 and 2031, PERS has room to expand operating profit margins

** PERS shares are down 9% in 2025 so far compared to 9.7% drop in IT index <. NIFTYIT>, exchange data shows

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))