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Investing.com - Jefferies initiated coverage on Hexaware Technologies (HEXW:IN) with a Buy rating and a price target of INR930.00.
The research firm cited Hexaware’s growth characteristics as a mid-sized IT firm with a well-diversified business mix and quality metrics that rival those of larger IT companies.
Jefferies expects strong client additions and mining, platform-led legacy modernization, and expansion in new verticals and regions to support 10% constant currency revenue CAGR and 15% EPS CAGR over calendar years 2025-2027.
The price target of INR930 is based on a 31x price-to-earnings multiple, reflecting what Jefferies considers appropriate for Hexaware’s combination of superior quality and healthy growth prospects.
Jefferies believes these factors will support premium valuations for the IT services company going forward.
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