Shares of Birlasoft Ltd. snapped a six-day losing streak on Tuesday and gained as much 4% on Tuesday after brokerage firm Macquarie upgraded the stock.

Macquarie has upgraded Birlasoft to “outperform” from its earlier rating of “neutral.” However, the brokerage cut its price target on the stock to ₹720 from ₹780 earlier. The revised price target implies a potential upside of 24% from Monday’s closing levels for Birlasoft.

The brokerage wrote in its note that the correction seen recently in shares of Birlasoft provide an attractive entry point.

Birlasoft shares were on a six-day losing streak, during which they declined over 20% after the company’s June quarter results.

During the April-June period, Birlasoft reported a revenue decline in constant currency terms for the first time in at least five quarters.

Birlasoft reported US Dollar revenue of $159.1 million, which is a drop of 2.9% when compared to the March quarter. In constant currency terms, Birlasoft reported a revenue decline of 2.7% on a quarter-on-quarter basis.

The management called out the challenging operating environment and tightened discretionary spends by the customers.

Citing the management, Macquarie wrote that the September quarter will see better revenue performance and deal wins.

The brokerage also sees triggers for Birlasoft’s EBIT margin to recover back to the 14% to 16% range and also for an improvement in sequential growth.

Out of the 14 analysts that have coverage on Birlasoft, eight of them have a “buy” rating on the stock, four of them say “hold”, while two of them have a “sell” rating.

Shares of Birlasoft are off the highs of the day but are still trading with gains of 2.1% at ₹590.8. The six-day fall led to the stock giving up gains for the year and is now trading 15% lower on a year-to-date basis.