Brokerages have delivered mixed opinions on Bajaj Finance, with most maintaining a positive outlook, while UBS and Bernstein remain cautious.
Among the bullish firms, Morgan Stanley, Jefferies, Nomura, and HSBC have all reaffirmed their ‘Buy’ or ‘Overweight’ stance, raising their respective target prices. Morgan Stanley now sees a target of ₹9,300, followed by Jefferies at ₹9,270, Nomura at ₹9,000, and HSBC at ₹8,900. These firms cite strong loan growth, improving asset quality, and stable net interest margins as key drivers supporting earnings expansion.
On the other hand, UBS and Bernstein remain bearish, maintaining a ‘Sell’ and ‘Underperform’ rating, with targets of ₹6,500 and ₹6,400, respectively. They highlight valuation concerns, potential risks to credit costs, and a competitive lending environment as factors limiting upside potential.
With the stock currently trading at ₹7,759.85, the positive targets imply an upside of 14.7-19.8%, while the bearish calls suggest a potential downside of 16-17.5%. Investors may need to weigh growth prospects against valuation risks when considering their position in Bajaj Finance.
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