In a report released yesterday, Allen Klee from Maxim Group maintained a Buy rating on Roadzen Inc, with a price target of $4.00.
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Allen Klee has given his Buy rating due to a combination of factors including the recent capital raise by Roadzen Inc., which highlights the stock’s undervaluation. The company’s guidance on revenue growth in India is positive, suggesting a strong potential for future expansion in this key market. Additionally, the growth outlook for Roadzen Inc. appears promising, supporting the Buy rating. These elements combined with the current stock price present an attractive investment opportunity, justifying the price target of $4.00. Klee’s analysis indicates confidence in the company’s strategic direction and its ability to capitalize on market opportunities.