Goldman Sachs initiates coverage on PhysicsWallah, sets target price of Rs 135 backed by strong revenue, EBIDTA projection

Goldman Sachs has initiated coverage on PhysicsWallah with a Neutral rating and a ₹135 target price, citing strong execution and a large market opportunity. It expects 24% revenue CAGR and over 80% EBITDA CAGR during FY25–30, driven by organic traffic, a stable competitive landscape, and a scalable pricing model.