The Economic Times

PB Fintech shares can rally 91% after 2-day bloodbath, says Bernstein. Heres why it remains bullish

PB Fintech shares rose 4% after Bernstein retained its Outperform rating and Rs 2,310 target price, despite the stocks sharp fall following IRDAIs proposed ban on dark patterns. The brokerage expects lower insurance take rates, revenue and profit estimates, while cost rationalisation could provide some cushion. IRDAIs draft framework also proposes sweeping changes to insurance distribution and commission structures.