Bajaj Finance shares jump 3% after UBS upgrades to Neutral, hikes target price while Jefferies screams Buy
Bajaj Finance moved higher.
· Economic Times Markets, ET Stocks
Bajaj Finance shares jumped 3% on Wednesday following bullish brokerage calls. Global brokerages Jefferies and UBS issued positive outlooks, with Jefferies maintaining a Buy rating with a target of Rs 1,280, while UBS upgraded the stock to Neutral with a target price of Rs 1,100.
The analysis
Bajaj Finance reported Rs 1,280, and Rs 1,100, with movement of 3% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -0.8% on the day at ₹955.65, and has returned -5.7% over three months. It sits 18% below its 52-week high. The financial services sector has moved -7.7% over the same period, so Bajaj Finance is running 2.0 points ahead of its peers.
For Bajaj Finance, the question is how much of this is already reflected in the price and how much re-rates the financial services peer set alongside it.
Market context
- The company directly in focus is BAJFINANCE.
- Sector exposure: Financial Services.
- The immediate tone of coverage reads positive.
In this story
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