Axis Bank an outperformer: P Lilladher

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Axis Bank an outperformer: P Lilladher

Prabhudas Lilladher has maintained its outperformer rating on Axis Bank with a target price of Rs 921. The Research firm continues to prefer private banks and Axis Bank ranks among their top picks.

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Prabhudas Lilladher has maintained its outperformer rating on Axis Bank with a target price of Rs 921 in its September 2, 2008 research report. "We continue to prefer private banks and Axis Bank ranks among our top picks. We feel that there are upside risks to our earnings forecast from higher fee income growth, which can be sustainable, going forward. At the CMP of Rs 723, the stock is quoting at 14.7x FY10E EPS, 2.2x FY10E BV and 2.2x FY10E ABV. We maintain our Outperformer rating with a price target of Rs 921," says Prabhudas Lilladher's research report.

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