Buy HDFC AMC, target price Rs 5,200: Motilal Oswal Financial Services

Motilal Oswal recommends buying HDFC Asset Management Company, setting a target price of Rs 5,200. The firm anticipates strong growth, driven by fund performance and expanding distribution channels. With a projected FY24-27 CAGR of 23% for AUM, revenue, and core PAT, the stock currently trades at a FY26E P/E of 32x.