Goldman Sachs maintains sell on CreditAccess Grameen share price, sees 42% downside
By News Desk Published on May 19, 2025, 07:48 IST
Goldman Sachs has maintained its sell rating on CreditAccess Grameen, with a target price of Rs 700, implying a potential downside of approximately 42% from the current market price of Rs 1,200.00.
The brokerage highlighted that the company's pre-provision operating profit (PPOP) declined 7% year-on-year, though it was 6% ahead of estimates due to sharply lower employee operating expenses. However, credit costs remained elevated at around 9.85%, 35 basis points above Goldman Sachs' expectations, leading to a steep 88% drop in profit after tax on a year-on-year basis.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to consult certified financial professionals before making any investment decisions.
News desk at BusinessUpturn.com
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