Jefferies hikes TP for India's KFin Tech on overseas ramp-up

Kfin Technologies

12/10/2023 09:05

** Shares of India's KFin Technologies  KFIN.NS  rises as
much as 2.35% at 480 rupees 
    ** Global brokerage Jefferies raises TP of investment
banking and brokerage services co to 560 rupees from 500 rupees,
implying 20% upside 
    ** Note says overseas ramp ups moving well and will aid
growth; sees share of overseas revenue grow to 14% of total
revenue by FY26 from 9% in FY23 
    ** Adds co well positioned in Malaysia, Thailand and
Philippines; beefing up in Singapore and Hong Kong
    ** KFIN generates high surplus, has been pragmatic with
acquisitions; maintain "buy" rating - note 
    ** Mean recommendation of 5 analysts eyeing KFIN is "buy",
median TP is 430 rupees - LSEG data

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))