Brokerage: Goldman Sachs
Price Target: Rs 1,495 CMP: Rs 1,327.25
Upside (%): 12.6
Goldman initiated coverage on Affle, a digital advertising player, with a buy rating. The brokerage expects the company’s revenues to grow 32% on a compounded basis between FY22 and FY25. “Affle operates in a global large TAM ($65 billion in 2021) and which is expected by eMarketer to grow at 30% over 2021-25 driven by secular drivers of rising internet/smartphone/ ecommerce penetration, more data traffic across EMs and more time spent by digital consumers on mobile,” said Goldman.
Price Target: Rs 1,457
CMP: Rs 1,106
Upside (%): 31.7
IDBI Capital initiated coverage on the restaurant chain with a ‘high conviction buy’. The brokerage said BarbequeNation is a breakout investment opportunity in India’s fastest growing chained-casual-diningrestaurant (CDR) sector. “Driven by superior storeeconomics, Barbeque has been able to outperform competition in CDR sector,” said IDBI Capital. “Online delivery business is tracking well (13% revenue share) and is likely to grow at 20% CAGR during FY23-24E (estimates)