FirstCry parent Brainbees shares jumped more than 6% in morning trade after Morgan Stanley and BofA initiated a Buy rating and a target price of Rs 770.
The investment company indicates FirstCry’s strong position in the less competitive Mother, Baby and Kids (MBK) industry, anticipating a 21% compound annual growth rate (CAGR) in revenue over the next four years.
As per BOFA, FirstCry is on track to boost its profit margins by 500 basis points over the next three years. This margin growth is expected to result in an exceptional adjusted EBITDA CAGR of 57% between FY24 and FY27.
As of 9:20 am, FirstCry parent Brainbees shares were trading 6.03% higher at Rs 680.05 on the NSE.
