JM Financial maintains Buy on PNC Infratech, lowers target price to Rs 450 Jobbery Stock Market update

JM Financial maintains a Buy rating on PNC Infratech, revising the target price to Rs 450. The brokerage anticipates robust EPS CAGR of 43% over FY25-27E, driven by monetization proceeds and expected order activity. While appointed date delays led to EPS cuts, attractive valuations at 11x/9.5x FY26/27E EPS support the positive outlook.