Buy Federal Bank; target of Rs 284: SKP Sec

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Buy Federal Bank; target of Rs 284: SKP Sec

SKP Securities is bullish on Federal Bank and has recommended buy rating on the stock with a target of Rs 284, in its research report.

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SKP Securities is bullish on Federal Bank and has recommended buy rating on the stock with a target of Rs 284, in its research report.

"Federal Bank is set to emerge as a strong private bank through improved performance and growth. FBL has taken various steps to achieve its objective to be the no.1 bank in Kerala. FBL has shown better performance than the industry in the past and we expect it to continue the trend."

"We hereby initiate coverage on Federal Bank Ltd. and recommend buy rating with a target price of Rs 284 (25% upside) in 12 months implying1.02 x and 0.9 x to adj. Book value per share of  FY2010 & FY2011 respectively."

Disclaimer: The views and investment tips expressed by investment experts 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.

To read the full report click on the attachment