India's HDB Financial hits one-month high after Morgan Stanley upgrade
BUZZ-India's HDB Financial hits one-month high after Morgan Stanley upgrade ** Non-banking financial company HDB Financial's HDBF.NS shares rise as much as 4.55% to a one-month high of 712.1 rupees; stock last up 2.5%
** Morgan Stanley upgrades HDBF to "overweight" from "equal-weight" and raises PT to 850 rupees from 800 rupees, citing improving earnings outlook and attractive entry point
** "Improving asset quality creates a strong set-up for credit growth to pick up meaningfully," say analysts at Morgan Stanley
** Adds, loan growth primed to improve to 15% in FY2027 and 19% each in FY2028 and FY2028
** Says valuations have become attractive following recent stock correction, triggering the upgrade
** YTD, HDBF down 8.8%
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
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