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Last Updated : Jul 18, 2019 04:20 PM IST | Source: Moneycontrol.com

Buy Federal Bank; target of Rs 130: Anand Rathi

Anand Rathi is bullish on Federal Bank has recommended buy rating on the stock with a target price of Rs 130 in its research report dated July 16, 2019.

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Anand Rathi's research report on Federal Bank


In all major perimeters Federal Bank did well, with PAT, deposits and advances growing respectively 46%, 19% and 18% y/y. However, asset quality slightly deteriorated with GNPA increasing 7bps sequentially to 2.99% and slippages came at 1.5% (of the loan book). We retain our positive view on the bank, given the strong business growth prospects, steady margins and stable credit costs.


Outlook


We retain our Buy recommendation, at a higher TP of `130 (earlier `115).


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 04:20 pm
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