UBS upgrades SBI Cards to neutral rating, raises target price to Rs 800 amid signs of stabilization

UBS Global Research upgraded SBI Cards to ‘neutral’ from ‘sell,’ citing stabilization in delinquencies and improved underwriting. The target price was raised to Rs 800, reflecting optimism in operational performance and credit risk management. Despite recent underperformance, UBS expects gradual improvement with higher margins and returns by fiscal 2027.