Bajaj Finance’s Q2 performance has garnered a range of views from brokerages, including Jefferies and JPMorgan.
Jefferies has maintained a buy rating with a target price of ₹8,400, indicating a 26.4% upside from the current market price. Jefferies noted that Bajaj Finance’s AUM grew by 29% YoY in Q2, and expects the company to return to +20% earnings growth by FY26 if credit costs stabilize.
JPMorgan has a more cautious view, maintaining an overweight rating but cutting its target price to ₹7,300 from ₹8,000. JPMorgan flagged concerns over credit overshoot and asset quality strain in Q2 but highlighted that loan growth remains robust at 29% YoY. The brokerage expects margins to stabilize as funding costs peak, though the business mix may remain adverse.
With differing target prices and varying concerns, investors may want to carefully consider both the long-term growth potential and near-term challenges in Bajaj Finance.
Disclaimer: The information provided is for informational purposes only and should not be construed as investment advice.
