Top25-SA-Banner

Maxim Group Thinks Sify Technologies Limited’s Stock is Going to Recover


Maxim Group analyst Allen Klee initiated coverage with a Buy rating on Sify Technologies Limited (SIFY) today and set a price target of $4. The company’s shares opened today at $1.33, close to its 52-week low of $1.15.

Klee noted:

“Economic growth in India and a shift toward a digital economy provides a tailwind for Sify’s data center, telecom network, and IT services offerings.”

According to TipRanks.com, Klee is a 1-star analyst with an average return of -5.2% and a 43.2% success rate. Klee covers the Technology sector, focusing on stocks such as Atlantic Tele-Network, Net 1 Ueps, and Stampscom.

Sify Technologies Limited has an analyst consensus of Moderate Buy, with a price target consensus of $4.

See today’s analyst top recommended stocks >>

Based on Sify Technologies Limited’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $3.58 million. In comparison, last year the company had a net profit of $3.14 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Sify Technologies Ltd. engages in the provision of integrated Internet, network, and electronic commerce services in India. It operates through the following segments: Telecom-centric Services, and Data Center-centric Information Technology Services.