Bernstein bullish on Info Edge, upgrades price target
Info Edge reported steady growth for the first quarter of fiscal year 2025, primarily driven by its recruitment segment. Naukri's billings climbed 9% year-on-year, buoyed by increased hiring in GCC and consulting sectors.Bernstein has raised its price target to 7,940 Indian rupees, implying a potential upside of 10%. The brokerage attributes this to the recovery in IT hiring, which is expected to boost Naukri's performance.
While the startup investment valuation has been adjusted downwards, the recovery in IT billings and the strong performance of other segments remain key catalysts for the stock. Bernstein's bullish stance on Info Edge is underpinned by the expectation of continued growth in the recruitment business, stabilization of the real estate market, and the overall strength of the company's investment portfolio.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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