HSBC, CLSA upgrade CreditAccess Grameen after strong Q3; stock zooms 10%. Check target price

CreditAccess Grameen shares jumped significantly after HSBC and CLSA upgraded the stock to Buy. This followed strong December quarter results. The company reported a substantial net profit increase driven by margin expansion and lower provisions. Asset quality improved, and new borrowers were added. Robust liquidity and a healthy capital position were also noted.