Bernstein initiates 'outperform' rating on 4 IT stocks for up to 29% potential upside: Check details
Ahead of the sector's earnings season which is set to kickstart this week, Bernstein betted on 4 midcap IT stocks as it sees long headroom for these companies in the specialist engineering services segment.
Global brokerage Bernstein expanding its coverage on IT stocks initiated outperform rating on some of the IT midcaps. This is as the brokerage believes that specialist engineering services focused on software & auto have long headroom for growth. Further, these companies have partnered with global innovators like Microsoft and Tesla and have built robust management and sales capability.
Here are the stocks on which Bernstein initiated coverage
Bernstein on Persistent systems
Initiate Outperform, Target:Rs 5920, Potential upside: 29%
Bernstein on KPIT Tech
Initiate Outperform,Target: Rs 2120, Potential upside: 26%
Bernstein on Coforge
Initiate Outperform,Target 6080, Potential upside: 4%
Bernstein on Tata Elxsi
Initiate Underperform, Target 6030, Potential downside: 14%