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Buy Bajaj Finance; target of Rs 9500: ICICI Direct

ICICI Direct is bullish on Bajaj Finance recommended buy rating on the stock with a target price of Rs 9500 in its research report dated January 19, 2022.

January 20, 2022 / 04:25 PM IST
 
 
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ICICI Direct's research report on Bajaj Finance


Bajaj Finance is a dominant player in the consumer finance space while it has also made a foray into various lending segments wherein housing has grown to a significant size. Consumer business forms ~34% of overall consolidated AUM • Bajaj Finance maintained strong operating metrics over various credit and rate cycles leading to >18% RoE and >3% RoA consistently.



Outlook


We maintain BUY rating on the stock. The core business has got potential and is well on track to get transformed into an adaptable new age fin-tech. We roll over our valuations and arrive at a TP of Rs 9500 by valuing the business at ~8.4xFY24E ABV.


For all recommendations report, click here

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first published: Jan 20, 2022 04:25 pm
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