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Jefferies on Honasa: Jefferies turns white knight for Mamaearth, screams buy with Rs 520 target

"Honasa should report industry-leading growth at 27% over the next 3 years. We value at 6x Sep-25 EV/sales (at a discount to HPC peers; implies 67x FY26 PE) to arrive at a price target of Rs 520," Jefferies said, while calling it a high conviction buy. ....

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