Moneyview shares are up 58% from IPO price, jump 4% today after BofA coverage - what it said, check price target
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Moneyview shares rose 4% on Wednesday after Bank of America started coverage with a Neutral rating.
- ✓The stock is up 58% from its IPO price of ₹34.
- ✓BofA set a price target of ₹65, noting that the company has many growth drivers but its current valuation already reflects much optimism.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Livemint
- Reading Speed
- 6 Minute(s)
- Market Focus
- India Economy
Moneyview shares rose around 4% on Wednesday after Bank of America (BofA) initiated coverage on the digital lending fintech platform with a Neutral rating, flagging limited upside following a sharp rally since its stock market debut.
BofA Securities has set a price objective of ₹65 per share, compared with the stock's reference price of ₹54.95 in its initiation note, implying an upside potential of around 18%. The brokerage said Moneyview has several growth drivers in placebut believes its valuation already reflects much of the optimism following the stock's strong post-listing performance.
Moneyview shares have gained around 58% from their IPO price of ₹34, significantly outperforming the Nifty, which has risen about 9.5% over the same period, according to BofA.
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