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Investing.com - Macquarie has upgraded PB Fintech (NSE:PBFI) Limited (NSE:POLICYBZ) from Underperform to Neutral while raising its price target to INR1,945.00 from INR1,530.00.
The upgrade comes as PB Fintech has shown stronger-than-expected growth in its life and health insurance segments, prompting the research firm to revise its outlook on the company.
Macquarie projects a 35% revenue compound annual growth rate (CAGR) for PB Fintech over the fiscal years 2024 through 2027, reflecting the company’s positive performance in key insurance categories.
Despite the improved growth outlook, Macquarie believes the current valuation of PB Fintech adequately reflects the company’s growth potential, with shares trading at approximately 65 times the projected fiscal year 2027 price-to-earnings ratio.
The new price target of INR1,945.00 represents a significant increase from the previous target of INR1,530.00, indicating Macquarie’s more optimistic view of PB Fintech’s business trajectory while maintaining a balanced perspective on its valuation.
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