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Investing.com - Jefferies initiated coverage on Hexaware Technologies (HEXW:IN) stock with a Buy rating and a price target of INR930.00.
The research firm highlighted Hexaware’s growth characteristics as a mid-sized IT firm, noting it combines diversified business operations with quality metrics that rival larger IT companies.
Jefferies expects Hexaware to achieve 10% compound annual growth rate (CAGR) in constant currency revenues and 15% CAGR in earnings per share over the CY25-27 period.
The growth will be driven by strong client additions and mining, platform-led legacy modernization, and expansion into new verticals and regions, according to the research firm.
Jefferies’ price target of INR930 is based on a price-to-earnings multiple of 31x, with the firm stating that "superior quality with healthy growth will support premium valuations."
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