Prabhudas Lilladher initiates coverage on 2 midcap IT stocks with with 6.5% upside potential

Domestic brokerage Prabhudas Lilladher has initiated coverage on Cyient and Persistent Systems, highlighting mid-cap IT companies' premium over large caps. They expect improved sentiment and increased discretionary spending by late FY25 or early FY26 to boost mid-cap IT performance.