Limited Period Offer:Be a PRO for 1 month @Rs49/-Multiple payment options available. Know More

Buy Federal Bank; target of Rs 92: HDFC Securities

HDFC Securities is bullish on Federal Bank has recommended buy rating on the stock with a target price of Rs 92 in its research report dated January 21, 2021.

January 28, 2021 / 03:50 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

HDFC Securities' research report on Federal Bank


FB’s 3QFY21 operating performance increasingly demonstrates an improving franchise that is beginning to find and consistently exercise pricing power (a gradual 9bps QoQ NIM expansion and strong fee traction). Provisions remained sticky (~130bps ann.), as FB continued to cover pro forma slippages. Even as we continue to monitor asset quality outcomes, we revise our earnings upwards as we foresee a sustained improvement in operating metrics.


Outlook


Maintain BUY with a target price of Rs 92 (1.0x FY23E ABV).


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.

Broker Research
first published: Jan 28, 2021 03:50 pm

stay updated

Get Daily News on your Browser
Sections