AGI initiated with a Buy at HSBC

HSBC analyst Neha Agarwala initiated coverage of AGI (AGBK) with a Buy rating and $15 price target The firm says the company has a “valuable niche focus” that is less vulnerable to cycles. While most digital lenders have been crowding the high-yielding unsecured lending segments, Agi has carved a “profitable niche,” the analyst tells investors in a research note. HSBC sees share gains and new products aiding AGI’s mid-term growth.