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Last Updated : Jul 18, 2019 04:01 PM IST | Source: Moneycontrol.com

Accumulate Federal Bank; target of Rs 122: Arihant Capital

Arihant Capital recommended Accumulate rating on Federal Bank with a target price of Rs 122 in its research report dated July 17, 2019.

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Arihant Capital's research report on Federal Bank


Federal Bank reported a healthy operating performance with 46% yoy PAT growth led by 30% yoy rise in PPOP. Credit growth of the bank was healthy at 19% yoy while NIM was stable. Due to higher slippages the asset quality of the bank witnessed a slight deterioration. The bank is delivering consistent performance, on operating front. We are expecting this trend should continue going forward and bank is on track to achieve the targeted return ratios.


Outlook


We have reduced FY20 credit growth estimates to 19% from 20% earlier and revise our rating to Accumulate (Buy rating previously) with a target price of Rs 122.


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 Jul 18, 2019 04:01 pm
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