!PhysicsWalla gets 'Buy' call as JM Financial initiates coverage amid rapid hybrid expansion - Check target price

l has initiated coverage on newly listed edtech player PhysicsWallah with a ‘Buy’ rating and a target price of Rs 110, noting that the company’s fast‑growing hybrid model, disciplined spending and rising base of paying users position it for a strong multi‑year earnings expansion. The brokerage expects the platform to sustain robust growth across both online and offline channels, even as its shift into physical centres brings higher costs and greater operational complexity