Buy Union Bank of India, target Rs 326: Karvy

ALSO READ See previous views by Karvy Stock Broking See what other Experts & Brokerages are saying about Union Bank See messages about Union Bank Union Bank BSE | NSE 13/02/12 Are Mutual Funds betting on Union Bank?

Karvy Stock Broking has recommended buy rating on Union Bank of India , with price target of Rs 326, in its report dated November 6, 2009.

"We revise our earning estimates to factor in lesser credit growth assumption of 18.7% compared to 20.7%, much higher treasury income and higher credit costs; we increase our FY10 and FY11 earning estimates by 0.96% and 1.9% respectively and increase our target price by 3.2% to Rs326. We upgrade our rating on the stock to BUY from Out Performer with a target price of Rs 326." says Karvy.

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