Buy Bank of Baroda; target of Rs 221: Motilal Oswal
Motilal Oswal is bullish on Bank of Baroda has recommended buy rating on the stock with a target price of Rs 221 in its research report dated February 12, 2017.
Motilal Oswal's research report on Bank of Baroda
We expect stress addition and credit costs to reduce sharply in FY18/19. Additional buffers like non-core financial investments amongst other options will lead to dilution free growth until FY18. We cut FY17 estimates by 39%, however, we have not built in one off stake sale gains in our estimates. Maintain Buy with TP of INR 221 (1.2x December 18BV) – based on RI model.
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