Global brokerage firm Citi has maintained its ‘sell’ rating on Computer Age Management Services (CAMS) following the company’s Q4 results, even as it raised the target price to ₹3,055 from ₹2,985. The revision reflects valuation adjustments despite continued concerns on growth.
Citi noted that core profit before tax (PBT) fell 10% quarter-on-quarter, and flagged a further slowdown in non-mutual fund (non-MF) revenue growth, which remains a key overhang on earnings outlook.
While the brokerage expressed some optimism over new client additions in the non-MF space and CAMS’ focus on horizontal integration, it remained cautious due to the lack of pricing stability across most non-MF business segments.
As of the latest update, CAMS shares were trading at ₹3,807.00, indicating a downside potential relative to Citi’s revised target.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult a certified financial advisor before making any investment decisions.
