ICICI Direct recommended hold rating on Bank of Baroda with a target price of Rs 180 in its research report dated February 13, 2017.
ICICI Direct's research report on Bank of Baroda
With book value estimated lower in FY18E, we revise the valuation to 1.5x FY18E ABV, maintaining the target price at Rs 180/share. We maintain HOLD. Bank indication of no fresh capital in the next two years and plans to sell noncore assets like NSE and UTI AMC stake, could garner Rs 2500 crore.
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