UBS initiates 'Buy' on CarTrade Tech, sees 42% upside on asset-light model
UBS sets Rs 4,000 target (42% upside), citing CarTrade's asset-light platform, OLX India's under-monetised 18-crore user base, and remarketing growth. Forecasts 24% revenue CAGR FY26-FY30 and EBITDA margin expansion from 33% to 47% as India's used-car market doubles to $68-78bn by FY31.
UBS initiates 'Buy' on CarTrade Tech with Rs 4,000 target (42% upside), citing asset-light model, OLX India's under-monetised 18-crore user base, remarketing growth, and margin expansion to 47% by FY30 in India's growing used-car marketplace.