Motilal Oswal Sets ₹3,500 Target for ICICI Prudential AMC, Citing Strong Position for Mutual Fund Growth
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Motilal Oswal Bets Big on ICICI Prudential AMC, Sets ₹3,500 Target
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CNBC TV18•27-03-2026, 06:09
Motilal Oswal Bets Big on ICICI Prudential AMC, Sets ₹3,500 Target
•Motilal Oswal initiates 'Buy' rating on ICICI Prudential AMC with a one-year price target of ₹3,500, implying a 21% upside.
•ICICI Prudential AMC is India's second-largest asset manager and largest in active mutual fund QAAUM, holding a 13.5% market share and ₹9.1 trillion in QAAUM as of December 2025.
•The company is well-positioned to benefit from India's mutual fund industry growth, with overall QAAUM projected to grow at a 17% CAGR over FY26-28.
•Strong fund performance noted, with over 80% of AUM in top two quartiles on a one-year basis since April 2025.
•Motilal Oswal expects a 15% revenue CAGR for FY26-28, sustained EBITDA margins above 70%, and a 16% core profit CAGR.
