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The Economic Times
The Economic Times
Business
Sakshi Kumari

Jefferies names Max Financial as its top insurance pick, sees 41% upside despite target cut

Jefferies Axis Bank Insurance Max Financial Services Sakshi Kumari SEBI

Jefferies has moved Max Financial Services to the top of its life insurance pecking order, saying investor concerns over the impact of new distribution rules on the company’s growth are exaggerated.

The brokerage has retained its Buy rating on the stock, while cutting its target price to Rs 2,050 from Rs 2,250. The revised target still implies 41% upside from Max Financial’s previous close of Rs 1,451.

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