ICICI Direct is bullish on Motilal Oswal Financial has recommended buy rating on the stock with a target price of Rs 765 in its research report dated August 07, 2020.
ICICI Direct's research report on Motilal Oswal Financial
Motilal Oswal (MOSL) reported a mixed Q1FY21 performance wherein broking revenue was healthy but asset & wealth management saw pressure. The topline stayed flat at Rs 633 crore (excluding MTM impact) while earnings increased 29% YoY to Rs 167 crore, led by MTM gains on investments.
We estimate FY22E PAT at Rs 523 crore. We value MOSL on SOTP basis, implying value of 20.9x FY22E PAT, giving a target price of Rs 765. Maintain BUY.
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