Pine Labs Shares Soar: Jefferies, Morgan Stanley Issue Bullish Calls

Business
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Moneycontrol•24-12-2025, 11:24
Pine Labs Shares Soar: Jefferies, Morgan Stanley Issue Bullish Calls
- •Pine Labs shares surged today, trading around 240 rupees, up 2.07%, with an intraday high of 251.80 rupees.
- •Jefferies initiated 'Buy' with a target price of 300 rupees, projecting a 20% upside and 23% CAGR revenue (FY25-28).
- •Morgan Stanley gave an 'Equal-Weight' call, setting a target of 260 rupees, expecting a 12% upside and 19% revenue CAGR (FY25-28).
- •Both brokerages highlight growth from affordability services, issuing business, and focus on working capital intensity.
- •Jefferies notes Pine Labs' cheaper valuation and potential for re-rating, with Adj EBITDA margins possibly reaching 15-27% by FY28.
Why It Matters: Brokerages Jefferies and Morgan Stanley are bullish on Pine Labs, citing strong growth potential and attractive valuations.
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