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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
 
 
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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.



Outlook


We maintain our Buy rating on the stock with a revised price target (PT) of Rs. 85.



For all recommendations report, click here


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.

Broker Research
first published: Dec 15, 2020 02:29 pm

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