Moneyview shares are up 58% from IPO price, jump 4% today after BofA coverage - what it said, check price target

Résumé détaillé

Moneyview shares rose about 4% after BofA initiated coverage with a Neutral rating and a ₹65 price target, implying roughly 18% upside from its reference price. The brokerage cited growth potential but said the stock’s 58% post-IPO rally has balanced its risk-reward.

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.

Moneyview share price today opened at ₹52.29 apiece on the BSE, the stock touched an intraday high of ₹53.70 apiece, and an intraday low of ₹51.55 per share.

Technical analysts said Moneyview listed on 1 October at ₹55, against its IPO price of ₹34, and touched a post-listing high of ₹65.50. The stock has since retraced, although buying interest has emerged at lower levels. Going ahead, it could move towards its previous high of ₹65.50. On the downside, the ₹45.80 level is expected to act as immediate support.

BofA described Moneyview as one of India's largest digital-only lending platforms, catering primarily to young, salaried borrowers in Tier-2 and smaller cities. The brokerage believes the company operates in a large addressable market and has an opportunity to increase customer lifetime value through a range of lending products that help borrowers build their credit histories.

Its hybrid lending model, which combines loans sourced through partner lenders with lending through its own non-banking financial company (NBFC), also allows it to expand without committing significant capital to every loan, BofA noted.

However, the brokerage believes the risk-reward equation has become more balanced after the stock's…

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