CarTrade Tech shares rocket 6% as Nomura raises target price. Here are 3 reasons why

CarTrade Tech shares surged about 6% after Nomura raised its target price, citing stronger medium-term growth visibility for OLX. Nomura highlighted AI-led monetisation through Elite programmes, used-car financing with IDFC First Bank, and escrow/logistics as key growth drivers, while raising FY27 and FY28 OLX revenue growth estimates to 25% and 30% and introducing FY29 forecasts of 30% revenue growth and a 48% margin. The stock trades at around 29 times FY28 estimated adjusted EBITDA against an estimated EBITDA CAGR of about 32% over FY26-29.