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    Stock tips for Dec 18

    Stock tips for Dec 18
    Markets are expected to open higher on the back of strong overnight closings in the US. Here are a few stock ideas with a medium to long term perspective in mind.

    Persistent Systems

    Asit C. Mehta is bullish on Persistent Systems and has recommended accumulate rating on the stock with a target price of Rs 521 in its December 17, 2012 research report.

    "At Rs 486, the company is trading relatively closer to its fair value (i.e. closer to 10x), which is at the highest end of our midcap PE band of 6.5-10). Persistent is currently trading at 9.2x the FY13E EPS of Rs 52.6 and 9.3x the FY14E EPS of Rs 52.1. We continue to value the company at 10x the FY14E EPS and arrive at a target price of Rs 521, implying an upside of 8%. We advise investors to ACCUMULATE the stock at the current price," says Asit C. Mehta's research report.

    KPIT Cummins

    KR Choksey has put a buy rating on KPIT Cummins, with a target of Rs 128. "Taking into account, recent large deal wins and strong deal pipeline, we believe the company will continue to register leading growth rate among peer sets, going forward. Moreover, we believe the recent stock price correction offers attractive entry point and hence we recommend "BUY" on the stock with a price target of Rs.128 by assigning P/E multiple of 10 times to its FY14E EPS of Rs.12.8."

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