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Investing.com - Jefferies initiated coverage on Niva Bupa Health Insurance (NIVABUPA:IN) with a Hold rating and a price target of INR84.00 on Friday.
The research firm acknowledged Niva Bupa’s position as one of the fastest-growing health insurers over the past five years, supported by diversified distribution channels, strong integration with banking and digital partners, and product innovation.
Jefferies indicated that Niva Bupa’s strong execution is already reflected in the current stock price, which trades at 27 times December 2027 estimated IFRS price-to-earnings ratio.
The firm’s INR84 price target implies a December 2027 price-to-earnings ratio of 29 times based on IFRS accounting standards.
Jefferies highlighted potential risks facing the insurer, including large distributors resisting GST pass-through costs and increasing policy maturity rates.
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