Affle India Shares Surge 7% to 52-Week High After Citi’s ‘Buy’ Recommendation

Affle India’s share price soared over 7% to a 52-week high of ₹1,464.95 on the NSE after Citi recommended buying the stock. Citi set a target price of ₹1,600, suggesting a 17% increase from the previous closing price.

Citi’s positive outlook is based on Affle’s strong growth potential. The target price is 48 times the estimated earnings for FY26, which is a premium compared to global ad-tech companies. Citi believes Affle’s focus on high-growth sectors, performance-based business model, data advantage in India and emerging markets, and strategic partnerships give it a competitive edge.

Affle has a good record of mergers and acquisitions, helping it expand into new areas and improve its capabilities. Citi expects Affle to see benefits from integrating YouAppi in the US and developed markets, and from its exposure to connected TV through Mediasmart. Key short-term growth drivers include a faster recovery in India and improved profit margins.

Citi predicts Affle’s revenue will grow at a 20% annual rate from FY24 to FY27, with a 4% increase in EBIT margins over the same period.

Affle India shares have risen more than 17% in the past month and over 30% in the past three months. Since the beginning of the year, the shares have gained 7.5%. At 10:30 am, Affle India shares were trading 2.06% higher at ₹1,397.70 on the BSE.