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Buy Axis Bank; target of Rs 860: Sharekhan

Sharekhan is bullish on Axis Bank has recommended buy rating on the stock with a target price of Rs 860 in its research report dated September 18, 2019.

September 19, 2019 / 12:54 PM IST
 
 
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Sharekhan's research report on Axis Bank


We continue to view Axis Bank as a potential re-rating candidate backed by its improving asset quality and ability to raise fresh capital at reasonable valuations. Though the road to recovery could be fraught with hurdles (rising risk of slippages from new areas of business), the direction in terms of structural improvement in its balance sheet is expected to remain positive. Consequently, we suggest the use the aberrations like the correction in past few months to accumulate the stock.


Outlook


We maintain our BUY rating on Axis Bank with an unchanged Price target of Rs 860.


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: Sep 19, 2019 12:54 pm

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