JM Financial maintains Buy on TBO Tek, lowers target price to Rs 1,400 Jobbery Stock Market update

JM Financial maintains a buy call on TBO Tek, lowering the target price to Rs 1,400 due to moderated growth expectations in the international H&P segment and adjusted EBITDA margin forecasts. Despite near-term impacts, the brokerage anticipates strong growth, estimating significant CAGR in GTV, Revenue, and EBITDA over the next three fiscal years.