Morgan Stanley bullish on Bajaj Finance; Credit Suisse neutral

Updated : April 06, 2021 08:47:09 IST

Credit Suisse feels that Bajaj Finance’s growth is recovering, but still below normal levels.

Morgan Stanley has rated Bajaj Finance as overweight, with a price target of Rs 6000. According to the broking firm, Bajaj Finance’s assets under management for the March quarter is better than expected.

The company’s fourth-quarter earnings would swing sentiment positively, especially after the recent sell-off, Morgan Stanley said.

Credit Suisse is neutral on Bajaj Finance with a price target of Rs 5,600. The broking firm feels that Bajaj Finance’s growth is recovering, but still below normal levels. It expects the loan growth to slow down to 21 percent compounded annually, over the medium term.

Credit Suisse said Bajaj Finance was facing stiff competition in the home loan segment, and that its market share for offline consumer durable finance was declining.

Also, the second wave of COVID would impede the normalization of credit cost, Credit Suisse said.

Published : April 06, 2021 08:28 AM IST

Morgan Stanley bullish on Bajaj Finance; Credit Suisse neutral

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