Motilal Oswal gives Jio Platforms buy with ₹1,515 DCF-backed target
Business
Motilal Oswal just gave Jio Platforms (JPL) a "Buy" rating and set a target price of ₹1,515, thanks to the company's strong recent results and promising outlook.
They're expecting JPL's revised ₹1,515 target is premised on DCF-backed ~12.2x FY29 reported EBITDA, driven by higher incremental EBITDA margins and a faster-than-expected inflection in FCF.
Jio Platforms Q2FY27 revenue up 11%
JPL impressed in Q2 FY27 with revenue up 3% from last quarter and 11% higher than last year.
This boost came from more people joining (about nine million new subscribers) and users spending slightly more on average.
Digital services also grew by 4%.
On top of that, profits (EBITDA) jumped 5% quarter-on-quarter, and free cash flow is expected to inflect faster.