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Last Updated : Dec 30, 2019 10:49 AM IST | Source: Moneycontrol.com

Buy Max Financial Services target of Rs 590: Sharekhan

Sharekhan is bullish on Max Financial Services has recommended buy rating on the stock with a target price of Rs 590 in its research report dated December 27, 2019.

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Sharekhan's research report on Max Financial Services


Max Life Insurance (MLI) (holding company Max Financial Services) continues with strong operational performance (healthy margins, adequately capitalized and attractive EV growth) and is an attractive business franchise (6% overall market share). Despite uncertainties, we believe that strong business fundamentals and the current valuation (at significant discount to peers) makes the risk-return favourable for Max Financial Services. We introduce FY22E earnings estimates and accordingly arrive at a price target (based on two-year average multiples).


Outlook


We upgrade our rating to BUY on the stock with a revised PT of Rs. 590.


For all recommendations report, click here


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First Published on Dec 30, 2019 10:49 am
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