Hold City Union Bank; target of Rs 145: Centrum
Centrum recommended hold rating on City Union Bank with a target price of Rs 145 in its research report dated February 08, 2017.
Centrum's research report on City Union Bank
We retain Hold on City Union Bank (CUBK), with TP at Rs145. The bank’s Q3’17 profitability was in-line with our estimates. Management has retained its slippage guidance for FY17E, as asset quality remains resilient with QoQ drop in delinquencies. CUBK’s capital position remains strong and with it levers in place will see growth rate accelerates.
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