Jefferies has lowered CMS Info Systems' target price to Rs 445 from Rs 580. (Source: CMS Info Systems website) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Jefferies has maintained its 'buy' rating on CMS Info Systems Ltd, lowering the price target to Rs 445 from Rs 580.

The brokerage has cut earnings estimates by 7-10% for FY26-28E to factor in the slower growth in consumption and ATM rollout.

"We maintain buy, as valuations at 14 times FY27E P/E are reasonable in context of 12% CAGR in revenue with steady margins," it added.

The brokerage noted that the management of CMS pointed at softer trends for FY26 & normalisation from FY27.

According to Jefferies, uptick in ATM network expansion will be key, and in retail cash segment, the management plans to keep up with

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