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Feb 14, 2017, 06.33 PM | Source: Moneycontrol.com

Buy State Bank of India; target of Rs 350: Motilal Oswal

Motilal Oswal is bullish on State Bank of India has recommended buy rating on the stock with a target price of Rs 350 in its research report dated February 10, 2017.

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Buy State Bank of India; target of Rs 350: Motilal Oswal

Motilal Oswal is bullish on State Bank of India has recommended buy rating on the stock with a target price of Rs 350 in its research report dated February 10, 2017.

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Motilal Oswal's research report on State Bank of India

We like SBIN for its lowest NSL of 6.7%, PCR of 63%, healthy capitalization (CET1 of 10%), strong liability franchise (CASA ratio: 46.5%) and focus on core operating profitability. Asset quality performance was largely in line. Although ABs surprised negatively, the worst is expected to be behind. Slippage ratio is expected to decline in ensuing years.

Outlook

SBIN is highly geared to economic upcycle and improvement in asset quality. Profitability is likely to be the highest among peers due to its policy of recognizing stress upfront and lumpy exposures. Buy with SOTP-based TP of INR 350 (1.1x Dec 18 BV + INR 52 for investments).

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Disclaimer:
The views and investment tips expressed by investment experts/broking houses/rating agencies 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 here

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Buy State Bank of India; target of Rs 350: Motilal Oswal

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