Jefferies Sticks to Its Buy Rating for SBI Life Insurance Co. Ltd. (SBILIFE)

Jefferies analyst Prakhar Sharma maintained a Buy rating on SBI Life Insurance Co. Ltd. on March 27 and set a price target of INR2,500.00. The company’s shares closed last Friday at INR1,837.70.
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Sharma covers the Financial sector, focusing on stocks such as HDFC Life Insurance Co. Ltd., ICICI Prudential Life Insurance Co. Ltd., and Nuvama Wealth Management Limited. According to TipRanks, Sharma has an average return of 2.7% and a 46.77% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for SBI Life Insurance Co. Ltd. with a INR2,416.67 average price target, a 31.51% upside from current levels. In a report released yesterday, TipRanks – xAI also initiated coverage with a Buy rating on the stock with a INR2,049.00 price target.
Based on SBI Life Insurance Co. Ltd.’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of INR228.64 billion and a net profit of INR4.95 billion. In comparison, last year the company earned a revenue of INR403.23 billion and had a net profit of INR5.29 billion