Moneycontrol PRO
Open App

Buy Federal Bank; target of Rs 60: Sharekhan

Sharekhan is bullish on Federal Bank has recommended buy rating on the stock with a target price of Rs 60 in its research report dated May 28, 2020.

May 29, 2020 / 01:08 PM IST
  • bselive
  • nselive
Todays L/H

Sharekhan's research report on Federal Bank

Federal Bank Limited (FB) posted strong results for Q4FY2020, with in-line topline growth, but treasury gains helped offset the steep rise in provisions. Moreover, the sequentially improved asset quality (GNPAs down 8 bps) is a positive. Higher other income (OI) partially helped cushion the impact of the steep rise in provisions, which at Rs. 567 crore (including COVID-19 related provision of Rs. 93 crore) increased by ~2x y-o-y. COVID-19 has increased downward risks to the global economic outlook;hence, inward remittances are likely to be vulnerable.


We maintain our Buy rating on the stock with a revised price target (PT) of Rs. 60.


For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: May 29, 2020 01:08 pm
ISO 27001 - BSI Assurance Mark