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Last Updated : Aug 02, 2019 03:11 PM IST | Source: Moneycontrol.com

Buy Punjab National Bank target of Rs 85: Sharekhan

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.

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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.


Outlook


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


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.



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First Published on Aug 2, 2019 03:11 pm
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