Morgan Stanley, Investing.com, Macquarie See Upto 56% Upside in SBI Cards
By Malvika Gurung
Investing.com — Global brokerage biggies Morgan Stanley (NYSE:) and Macquarie (ASX:) have reported bullishness on the credit card company SBI Cards and Payment Services (NS:). Shares of the financial services company ended 2.27% lower at Rs 769 apiece on Friday, as the domestic market crashed and benchmarks and witnessed a sea of red.
Morgan Stanley has set an overweight rating on the NBFC with a target price of Rs 1,100 per share, an upside of 43% compared to Friday’s closing price. Its rationale included a continued market share gain reported by SBI (NS:) Cards in the card segment.
The company’s share stood at 30% in the incremental cards market, while reporting an increment of 17 basis points on an MoM basis in the outstanding cards in force.
The global brokerage stated that the NBFC’s spends market share marginally improved to 18.3% on an MoM basis in the month of November and maintained an 18% market share on a year-to-date basis.
Macquarie has continued to hold its outperform rating on SBI Cards, setting a target price of Rs 1,200/share, an upside of 56% from Friday’s closing.
According to InvestingPro data, a total of 25 analysts are currently covering the SBI subsidiary stock, with the fair value standing at Rs 874.39/share, an upside of 13.7%.
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By Malvika Gurung
Investing.com — Global brokerage biggies Morgan Stanley (NYSE:) and Macquarie (ASX:) have reported bullishness on the credit card company SBI Cards and Payment Services (NS:). Shares of the financial services company ended 2.27% lower at Rs 769 apiece on Friday, as the domestic market crashed and benchmarks and witnessed a sea of red.
Morgan Stanley has set an overweight rating on the NBFC with a target price of Rs 1,100 per share, an upside of 43% compared to Friday’s closing price. Its rationale included a continued market share gain reported by SBI (NS:) Cards in the card segment.
The company’s share stood at 30% in the incremental cards market, while reporting an increment of 17 basis points on an MoM basis in the outstanding cards in force.
The global brokerage stated that the NBFC’s spends market share marginally improved to 18.3% on an MoM basis in the month of November and maintained an 18% market share on a year-to-date basis.
Macquarie has continued to hold its outperform rating on SBI Cards, setting a target price of Rs 1,200/share, an upside of 56% from Friday’s closing.
According to InvestingPro data, a total of 25 analysts are currently covering the SBI subsidiary stock, with the fair value standing at Rs 874.39/share, an upside of 13.7%.