ICICI Securities Initiates Buy on Pine Labs, Sees 36% Upside to Rs 210
Brokerage cites diversified payments mix across subscription, affordability, issuer distribution and processing, plus international expansion. Forecasts 19% revenue CAGR, 37% Ebitda CAGR and 75% PAT CAGR through FY30, with PAT crossing Rs 1,000 crore.
ICICI Securities initiated Buy on Pine Labs with Rs 210 target (36% upside), citing diversified payments mix across subscription, affordability, issuer distribution and processing, plus international expansion driving 75% PAT CAGR through FY30.