JM Financial upgrades Zensar Tech to a buy; here's why?
Updated: 19 May 2022, 09:29 AM IST
- Brokerage firm JM Financial has upgraded the stock to a 'buy' from a 'hold' but has cut the target price to ₹400 from ₹470. Weakness in global macro is a key risk for the stock which can impair near term IT spending.
The brokerage firm highlighted that Zensar has continued to underperform tier-II peers on growth in FY22, but it is exiting FY22 on a stronger note which should help the company reduce the growth differential in FY23.