City Union Bank a market performer; tgt of Rs 42: Karvy

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City Union Bank a market performer; tgt of Rs 42: Karvy

Karvy Stock Broking has reduced its rating on City Union Bank to market performer from buy with a target of Rs 42 in its july 7, 2010 research report.

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Karvy Stock Broking has reduced its rating on City Union Bank to market performer from buy with a target of Rs 42 in its july 7, 2010 research report. 

"Recently we met with City Union Bank's (CUB) management to update ourselves on the bank's status on business growth, profitability and asset quality. We keep our FY11 and FY12 estimates unchanged and maintain our target price at Rs 42; we reduce our rating on the stock to a market performer from buy due to run-up in the stock price," says Karvy Stock Broking research report.

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To read the full report click on the attachment