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Last Updated : May 29, 2020 03:31 PM IST | Source: Moneycontrol.com

Buy Federal Bank target of Rs 55: Anand Rathi

Anand Rathi is bullish on Federal Bank has recommended buy rating on the stock with a target price of Rs 55 in its research report dated May 29, 2020.

Broker Research @moneycontrolcom
 
 
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Anand Rathi 's research report on Federal Bank


Higher treasury income (stake sale of Yes bank) and NIM expansion led to strong 29% sequential growth in Federal Bank’s Q4 operating profits. Higher provisions (incl. `930m Covid-related) led to a ~32% q/q decline in earnings. Asset quality and PCR improved. Ahead, higher build-up of stress would keep credit cost high and profitability subdued in the medium term.



Outlook


We cut our P/ABV multiple to 0.8x (earlier 1.3x), with a lower TP of `55 (earlier `110).




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.

First Published on May 29, 2020 03:31 pm
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