JP Morgan upgrades Persistent Systems, KPIT Tech and LTIMindtree ahead of Q4 results

Here's a breakdown of the upgrades and adjustments made by JP Morgan collated from ETNow sources:

Persistent Systems

The IT stock was upgraded to overweight from a neutral rating, with the target price raised to Rs 4,400 from Rs 3,600. This substantial upgrade reflects JP Morgan's confidence in Persistent Systems' future performance, driven by an increase in FY26 revenues and improved margins.

KPIT Tech

Upgraded to a neutral rating from underweight earlier, with the target price raised to Rs 1,400 from Rs 1,150. JP Morgan's decision to upgrade KPIT Tech is based on the expectation of closing three large deals during FY25, indicating potential growth opportunities.

LTIMindtree

This IT software company was upgraded to a neutral stance from an underweight rating, with a slight reduction in target price to Rs 5200 from Rs 5400. Despite the target price adjustment, the upgrade signifies JP Morgan's recognition of LTIMindtree's recent share price underperformance and potential for improvement.

TCS

The brokerage maintained a neutral rating on the tech heavyweight, with the target price increased to Rs 4,000 from Rs 3,700.

HCL Tech

With a slight reduction in the target price to Rs 1480 from Rs 1530 the brokerage maintained a neutral rating on the counter.

Wipro

Maintained Neutral rating, with the target price reduced to Rs 480 from Rs 500.

Tech Mahindra

Maintained Underweight rating, with the target price decreased to Rs 1050 from Rs 1150.

L&T Tech

Maintained Overweight rating, with the target price increased to Rs 5900 from Rs 5800.

Infosys, Mphasis, Cyient, Tata Tech, Tata Elxsi

Maintained previous ratings with respective target prices. JP Morgan maintains its overweight rating on Infosys, a neutral stance on , and an overweight rating on , while continuing to hold an underweight stance on Tata Tech and , with no changes in target prices.

JP Morgan's strategic upgrades and adjustments underscore the dynamic nature of the Indian IT sector and the importance of adapting to changing market conditions.

These moves also reflect JP Morgan's confidence in the resilience and growth potential of select companies within the sector.

Investors are advised to closely monitor these developments and factor in JP Morgan's recommendations while making investment decisions in the Indian IT market.

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)