Jefferies initiates coverage on Poonawalla Fincorp with Buy rating. Why are analysts bullish?

Jefferies has initiated coverage on Poonawalla Fincorp with a Buy rating and a target price of Rs 490. The brokerage sees strong growth potential driven by a new leadership team and an expanded product range. Poonawalla Fincorp is expected to achieve the fastest AUM growth among major NBFCs. Profitability is also projected to improve significantly, supporting premium valuations.