ICICI Direct has given Hold recommendation for Bajaj Finserv with a target price of Rs. 1850 in its research report issued on Sep 13, 2022
ICICI Direct’s research report on Bajaj Finserv
Bajaj Finserv (Finserv) is a financial conglomerate with a holding in the financing business (Bajaj Finance), life insurance (Bajaj Life Insurance) and general insurance (Bajaj General Insurance) business. Consistent, faster business growth and profitability remains in focus.
We revise our recommendation from BUY to HOLD. However, holding company discount has narrowed with recent run up in stock price. Thus, we value Bajaj Finserv at ~33x FY24E EPS (factoring 10% discount) and revise our target price to Rs 1850/share.