Sharekhan is bullish on Punjab National Bank has recommended buy rating on the stock with a target price of Rs 85 in its research report dated August 01, 2019.
Sharekhan's research report on Punjab National Bank
PNB has made ~88% provisions on NCLT accounts. Resolution of NCLT accounts (expected recovery of Rs 7000 crore) can be positive for earnings and margins. However, the pace of slippage is still a concern, and the overhang of pension related provisions are dampener risks to profitability.
We maintain our Buy rating on the stock of Punjab National Bank (PNB) with a revised price target (PT) of Rs. 85.
For all recommendations report, click here
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