ICICI Direct is bullish on Jammu & Kashmir Bank has recommended buy rating on the stock with a target price of Rs 80 in its research report dated February 08, 2017.
ICICI Direct's research report on Jammu & Kashmir Bank
Though we have halved our FY18E PAT estimates led by credit growth moderation and higher credit cost, healthy recovery is anticipated. Therefore, we revise our target price upwards at Rs 80 from Rs 68 earlier, assigning higher multiple at 1.6x FY18E P/ABV. Consequently, we revise our recommendation on the stock from HOLD to BUY.
For all recommendations, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.