JPMorgan Upgrades PhysicsWallah to Overweight with 26.5% Upside Prediction
JPMorgan has upgraded its rating for PhysicsWallah to Overweight from Neutral, predicting a 26.5% upside in the stock price. This move comes after the company's Q1 earnings report exceeded expectations and maintained its guidance of 30% revenue growth in FY27.
Despite concerns over NEET exam delays causing an 18% decline in PhysicsWallah's stock value, JPMorgan views this as a correction opportunity rather than a red flag. The brokerage firm cites the company's plans to divest its NBFC arm, FinZ Finance, as it focuses on developing its core education platform.
The target price of Rs 148 for PhysicsWallah implies an upside from its current market price of Rs 117. JPMorgan's upgrade is based on the company's Q1 performance and maintained revenue growth guidance, indicating a positive outlook for the stock in the future.