India's Aavas Financiers rises; Goldman Sachs upgrades to "buy"

Aavas Financiers

06/09/2024 06:36

** Housing finance co Aavas Financiers  AVAS.NS  rises ~3%
to 1,867 rupees, a two-month high
    ** Goldman Sachs upgrades to "buy" from "neutral", raises TP
to 2,160 rupees, a 19% upside to last close
    ** Expects disbursements growth in FY25-26, helped by
expansions and tech revamp in its loan management and
origination systems
    ** Forecasts 23% CAGR for AUM over FY24-27
    ** Raises FY25-26 earnings forecast on higher net interest
income, lower expenses, stable margins and credit costs
    ** Stock on track for fourth straight week of gains
    ** Avg rating of 19 analysts is "buy"; median TP is 1,950
rupees - LSEG
    ** AVAS up ~22% YTD, on track to snap two-year losing run


 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))