In a recent report from Yes Securities, a leading brokerage firm, Home First Finance Ltd. has been commended for its strong execution and is expected to continue its impressive performance. The report reiterates a buy recommendation, suggesting that the valuation is reasonable after a recent price correction.
According to the report, Home First Finance Ltd. has maintained steady growth and minimal earnings downgrade throughout FY24, setting it apart from other companies in the market. From a growth and return on equity standpoint, the company has consistently met expectations, with a solid outlook for future growth and an intact trajectory for RoE improvement.
Despite a recent price correction, the company’s valuation is deemed attractive. Trading at 17 times price-to-earning and 2.8 times price/adjusted book value on FY26 estimates, Home First Finance Ltd. is projected to experience a compound annual growth rate of 27-28% over FY23-26. Yes Securities maintains a ‘Buy’ recommendation on the stock and has set a 12-month target price of Rs 1140.
It’s important to note that this report is authored by an external party, and NDTV Profit, while sharing the report, does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of the report should not be considered as investment advice, and individuals should always consult with an expert based on their individual needs before making any investment decisions.
In conclusion, the report from Yes Securities highlights the strong performance of Home First Finance Ltd. and its promising outlook for the future. Investors may find the company’s current valuation to be attractive, especially considering its projected growth in the coming years. As with any investment decision, it’s important to conduct thorough research and seek professional advice before making any commitments.
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