JM Financial Initiates Buy Rating on Urban Company with Rs 125 Target Price

JM Financial has initiated coverage on Urban Company with a 'Buy' rating and a target price of Rs 125, indicating a 16% upside. The brokerage highlights Urban Company's dominant 60% market share in India's online home services sector, which has low online penetration and strong growth potential. The firm's multi-category platform benefits from high entry barriers and network effects. JM Financial also notes that InstaHelp, Urban Company's on-demand domestic help service, could unlock a large market if its unit economics become viable, likening it to a 'Blinkit' opportunity.