Shares of Sagility India jumped by 5% to reach the upper limit of Rs 48.91 on the BSE after JPMorgan, a global investment firm, started covering the stock. They gave it an “Overweight” rating with a target price of Rs 54, meaning they think its value could go up by 16% from its last closing price on Monday.
JPMorgan praised Sagility for its strong role in the healthcare services market, focusing mainly on necessary expenses. This gives the company steady growth, even when the market is uncertain. They noted that Sagility is set to gain from the increasing trend of outsourcing services in the U.S. healthcare industry. As healthcare providers aim to save money and work better, Sagility’s services are becoming vital, making them a reliable partner.
According to JPMorgan, Sagility has valuable expertise and strong relationships with clients, which helps them succeed, especially in high-profit areas like data analysis. The report also mentioned Sagility’s solid financial performance, showing that they can stay profitable while growing. Their focus on essential healthcare spending helps them avoid the ups and downs of the market, providing steady income.
JPMorgan expects Sagility’s profits to grow at an impressive rate of 50% each year from FY24 to FY27, supporting their positive view on the stock. Last week, another firm called Jefferies started covering Sagility too, giving it a “buy” rating with a target price of Rs 52. They emphasized Sagility’s ability to achieve strong revenue growth in the near future.
In the past month, Sagility’s shares have increased by 74.5%, and they’ve risen 15.7% in just the last two weeks!
(Disclaimer: The opinions expressed by experts do not reflect the views of Niftystat.)
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