ICICI Direct has given Buy recommendation for Bajaj Finance recommended buy rating on the stock with a target price of Rs 9500 in its research rep with a target price of Rs. 9500 in its research report issued on Jan 19, 2022

ICICI Direct’s research report on Bajaj Finance

Bajaj Finance is a dominant player in the consumer finance space while it has also made a foray into various lending segments wherein housing has grown to a significant size. Consumer business forms ~34% of overall consolidated AUM • Bajaj Finance maintained strong operating metrics over various credit and rate cycles leading to >18% RoE and >3% RoA consistently.

Outlook

We maintain BUY rating on the stock. The core business has got potential and is well on track to get transformed into an adaptable new age fin-tech. We roll over our valuations and arrive at a TP of Rs 9500 by valuing the business at ~8.4xFY24E ABV.

Leave a Reply

Your email address will not be published.