Hold Allahabad Bank; target of Rs 70: Edelweiss
Edelweiss recommended hold rating on Allahabad Bank with a target price of Rs 70 in its research report dated February 14, 2017.
Edelweiss' research report on Allahabad Bank
On operational front, we anticipate ALBK’s competitive prowess to be hampered by diversion to clean up coupled with capital constraints (which may not be forthcoming for mid-size PSU banks). Hence, we expect operating profitability to remain under pressure. Maintain ‘HOLD’.
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