Buy Federal Bank: target of Rs 85 : Sharekhan
Sharekhan is bullish on Federal Bank has recommended buy rating on the stock with a target price of Rs 85 in its research report dated December 14, 2020.
December 15, 2020 / 02:29 PM IST
Sharekhan's research report on Federal Bank
Our interaction with Federal Bank’s management reveals that the bank’s growth forecast is more stable with asset quality outlook improving. The management indicated that collection efficiency has been improving m-o-m, which is encouraging and the bank has neared normalisation with a ~95% collection efficiency. Federal Bank trades at 0.78x/0.7x FY22E/FY23E BVPS, which we believe is reasonable.
We maintain our Buy rating on the stock with a revised price target (PT) of Rs. 85.
For all recommendations report, click here
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