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Last Updated : May 20, 2020 04:25 PM IST | Source: Moneycontrol.com

Buy Bajaj Finance; target of Rs 2700: Sharekhan

Sharekhan is is bullish on Bajaj Finance has recommended buy rating on the stock with a target price of Rs 2700 in its research report dated May 19, 2020.

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Sharekhan's research report on Bajaj Finance


Bajaj Finance Ltd (BFL) reported mixed Q4FY20 numbers, wherein operational numbers were better than expectations, but a spike in provisions (mainly due to COVID-19 related provisions and one-offs) dragged down PAT. We believe business normalisation and demand recovery may take time, and hence medium-term growth is likely to be slower. However, we believe that a strong balance sheet, strong risk management and prudent management make BFL a strong franchise for the long run and company well-placed to ride over medium-term challenges.


Outlook


We maintain a Buy rating on Bajaj Finance with a revised price target of Rs. 2,700.


For all recommendations report, click here


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First Published on May 20, 2020 04:20 pm