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Buy Federal Bank: target of Rs 139: Sharekhan

Sharekhan is bullish on Federal Bank has recommended buy rating on the stock with a target price of Rs 139 in its research report dated December 30, 2021.

December 31, 2021 / 07:31 PM IST
 
 
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Sharekhan's research report on Federal Bank


Post the recent correction of 24% from its peak, Federal Bank’s valuations have turned attractive at 0.8x its FY2023 estimated book value. Federal Bank is better placed as compared to mid-size private sector banks in terms of granular liability franchise, a well-diversified loan book, and capital positioning. Moreover, the bank is way ahead of its peers in terms of digitisation and fintech landscape.



Outlook


Hence, we maintain our Buy rating on Federal Bank with a revised PT of Rs. 139.


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At 17:30 Federal Bank was quoting at Rs 83.00, up Rs 1.05, or 1.28 percent.


It has touched an intraday high of Rs 83.45 and an intraday low of Rs 82.20.


It was trading with volumes of 413,089 shares, compared to its thirty day average of 978,675 shares, a decrease of -57.79 percent.


In the previous trading session, the share closed down 0.00 percent or Rs 0.00 at Rs 81.95.


The share touched its 52-week high Rs 107.65 and 52-week low Rs 66.85 on 25 October, 2021 and 01 January, 2021, respectively.


Currently, it is trading 22.9 percent below its 52-week high and 24.16 percent above its 52-week low.


Market capitalisation stands at Rs 17,446.84 crore.


For all recommendations report, click here


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first published: Dec 31, 2021 07:31 pm
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