Sify Technologies announced a partnership with GMO GlobalSign, a provider of trusted identity and security solutions and one of the longest established Certificate Authorities in the world to offer SSL/ TLS Certificates to customers across India and other SAARC countries.
Sify Technologies initiated with a Buy at Maxim. Maxim analyst Allen Klee initiated Sify Technologies with a Buy rating and a price target of $4, saying that he likes the tailwind for the company's data center, telecom network, and IT services offerings coming from economic growth in India and a shift toward digital economy. The analyst adds that Sify "differentiates itself with a combined network and data-centric offerings and a 'one-stop shop' for IT solutions and enterprise telecom needs", anticipating double-digit organic revenue and EBITDA growth rates over the next 3 years. Klee further cites the attractive valuation of Sify stock, trading at 5.5-times his expected forward EBITDA multiple.