Nomura has upgraded CreditAccess Grameen to neutral and raised the target price to Rs 1,090, implying a downside of around 9% from the current market price of Rs 1,200.00.
The brokerage noted that the company posted a net profit of Rs 472 million in Q4, reversing a loss of Rs 995 million in Q3FY25. The recovery was supported by a 3% sequential rise in net interest income, which also came in 5% above estimates.
Management has emphasized efforts to reverse delinquency trends, particularly during the second half of FY26.
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