- Nomura cut the target price by 31% to Rs 1,100
- Brokerage lowered its earnings estimates for the company
- Alternative scenarios put fair value between Rs 1,335 and Rs 1,366
Nomura has sharply reduced its target price for PB Fintech by 31%, bringing it down to Rs 1,100. The brokerage acted after the insurance regulator proposed curbs on how insurance websites operate and on the commissions they earn.
Nomura also lowered its earnings estimates for the company. It has set out alternative scenarios, which put the fair value of the stock between Rs 1,335 and Rs 1,366.
