Emkay Research has upgraded Yes Bank from ACCUMULATE to BUY and retain our price target of Rs 260, in its March 26, 2008 research report. "Yes Bank has seen significant correction over last few days over the concerns of over exposure to the forex derivatives market. We believe that the current valuations of the stock at 12x FY10E EPS and 2.3x FY10E ABV are attractive. We are not changing our earnings estimates as we do not see significant threat to the same. We upgrade the stock from ACCUMULATE to BUY and retain our price target of Rs 260" says, Emkay research report.

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