UBS initiates coverage on CarTrade Tech with Buy rating, sees 42% upside. 4 reasons why

UBS has initiated coverage on CarTrade Tech with a Buy rating and a target price of Rs 4,000, implying a 42% upside from current levels. The brokerage expects the companys asset-light business model, margin expansion, OLX growth potential and strong digital marketplace network effects to drive earnings growth over the coming years.

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