Bank of America (BofA) has reiterated its ‘Neutral’ rating on PB Fintech with a target price of ₹1,850, citing strong core momentum in its business. The brokerage sees limited downside risk from PB Health’s foray into healthcare and insurance penetration, emphasizing that the company’s modest investment of under $100 million in the vertical mitigates the potential impact.
PB Fintech’s focus on solving insurance claims and improving penetration aligns with long-term growth trends, according to BofA. While short-term risks persist, the brokerage believes PB Health could offer optionality over a three-to-four-year horizon.
Despite macroeconomic challenges, PB Fintech continues to demonstrate resilience in its core insurance distribution business, with analysts optimistic about its ability to sustain growth amid evolving market dynamics.
