Jefferies initiates coverage of Turtlemint Fintech Solutions with a “Buy” rating, and the stock rises more than 5% following the announcement. Both outlets report that the brokerage also sets a price target for the shares.
Economic Times says Jefferies assigns a target price of Rs 190, which it frames as about 37% upside from the prevailing share price. NDTV reports a similar positive view and highlights expectations for strong growth. Jefferies projects Turtlemint’s revenue to grow at a 38% compound annual growth rate (CAGR) over the next three years.
The two reports cite different emphases within the same thesis. NDTV points to Turtlemint’s position in the point-of-sale-person insurance distribution segment as a key driver. Economic Times adds that the growth outlook is linked to increases in premiums and take-rates, reflecting expected improvements in the company’s distribution and performance metrics.
