Economic Times•Today at 06:42
Jefferies initiates coverage on Poonawalla Fincorp with Buy rating. Why are analysts bullish?
com International brokerage firm Jefferies started coverage on Poonawalla Fincorp with a Buy rating and a target price of Rs 490, implying an upside of 23% from current market levels, citing positive levers of growth. Analysts also forecast a sharp improvement in profitability, with RoA/RoE expected to expand to 16% by FY29 from 6% in FY26, which it believes should support the stock's premium valuation multiples. The brokerage highlighted the leadership overhaul, with seven of nine CXOs coming from HDFC Bank, alongside the launch of six new products including prime personal loans, commercial vehicle loans, gold loans and education loans.
