Emkay Global sees 31% downside in Go Digit stock, gives ‘Sell’ rating

Go Digit stock news: Domestic brokerage Emkay Global Financial Services has initiated coverage on the recently listed Go Digit stock with a ‘Sell’ rating and a target price of Rs 210. The target price implies a downside of 31.3 per cent from Thursday’s closing price.

The biggest negative for Go Digit, according to Emkay Global, is that the company is “just another General Insurance (GI) player” with an intermediary-driven distribution model and a relatively higher focus on commercial lines and motor, and one that “does not have a clear moat”.