Morgan Stanley has reiterated its “Overweight” call on ICICI Lombard, setting a target price of ₹2,400, indicating a 31.1% upside from the current market price of ₹1,831.05.
The company is on track to achieve its Q4 exit combined ratio guidance of 101.5%. However, management noted that the guidance could be impacted by changes in regulations regarding the accounting of long-term policies. ICICI Lombard is actively engaging with distributors to address these challenges, with efforts likely to conclude by the end of Q3.
Disclaimer: This report is for informational purposes only and should not be considered investment advice. Please consult a financial advisor before making investment decisions.
