Stocks To Buy: After 45% fall from peak, online car portal gets an upgrade; Check target

Shares of Cartrade Tech Ltd. are in focus on Wednesday, June 3, after brokerage firm Kotak Institutional Equities has upgraded its rating and increased its price target by 27.7%.

The brokerage has upgraded its rating on the stock to "buy" from its earlier rating of "sell" and has raised its price target to ₹2,300 per share from the previous ₹1,800 apiece. The stock closed Monday's trade at ₹1,805.

Kotak Institutional Equities said the Cartrade stock price has come off sharply this year, so far, on concerns of disruptions from AI models. The stock is down 45% from its all-time high of ₹3,290, which it had surged to in November 2025.

The brokerage believes Cartrade's deep dealer database and value-added offerings may limit the impact of AI models to an extent.

However, the brokerage said its upgrade is on account of a sharply higher valuation for OLX as it envisages steady gross merchandise value (GMV) growth, improving monetization and margins.

Kotak Institutional Equities has raised its earnings per share (EPS) estimates for Cartrade Tech by 1% - 5% over financial year 2027-2029, to factor in the higher profitability estimates for OLX.

With this upgrade, CarTrade Tech has become a "consensus buy" among analysts who track it, as all nine analysts now have a "buy" rating on the stock.

Shares of Cartrade Tech ended the previous session 1.9% higher at ₹1,805 apiece. The stock has gained 9.3% in the past month but has declined 36.2% this year, so far.

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