Anand Rathi Recommends 'BUY' on Persistent Systems, Sets Target at Rs 7587

• Persistent Systems reported 4.1% QoQ and 17.3% YoY constant currency revenue growth to $423 million.
• The company aims for $2 billion revenue by FY27 and $5 billion by FY31, driven by AI-led strategies.
• Growth was led by BFSI sector, with strong performance in Europe and North America.
• Persistent's deep domain expertise and focus on top accounts (82% revenue from Top 100) support its growth.
• Anand Rathi upgrades rating to 'BUY' with a target price of Rs 7,587, valuing it at 40.3x FY28e PE.

Why It Matters: Anand Rathi recommends buying Persistent Systems, citing strong growth and future revenue targets.