CarTrade Tech share price gains after UBS assigns ‘Buy’ call, sees over 42% upside potential

CarTrade Tech shares rallied over 2% in early trade after global brokerage UBS initiated coverage with a Buy rating and a target price of about 4,000 rupees, implying an upside potential of over 42% from Friday's close. UBS valued the stock at 43x its average FY28–FY29 estimated P/E multiple and projected margins expanding from 33% in FY26 to 47% by FY30, along with a revenue CAGR of 24% over FY26-30E. The brokerage expects 15-20% upside to consensus earnings for FY27-29E, citing underappreciated growth potential in its OLX used C2C platform and under-monetised revenue streams.