Bernstein has expanded its IT Services coverage by adding engineering services companies known for their deep specialisation in automotive and software sectors. The new additions include Persistent Systems, KPIT Technologies, Tata Elxsi, and Coforge.
Bernstein initiates coverage with the following ratings:
Persistent Systems: Outperform (OP) with a target price of ₹5,920, indicating a potential upside of 24%.
KPIT Technologies: Outperform (OP) with a target price of ₹2,120, indicating a potential upside of 25%.
Coforge: Market-Perform (MP) with a target price of ₹6,080.
Tata Elxsi: Underperform (UP) with a target price of ₹I6,030.
Bernstein’s emphasis on these “Billion-Dollar Specialists” underscores their niche expertise and growth potential in the auto and software engineering services sectors.