Anand Rathi is bullish on IndusInd Bank has recommended buy rating on the stock with a target price of Rs 2248 in its research report dated July 10, 2018.
Anand Rathi's research report on IndusInd Bank
Strong traction in IIB’s balance sheet continues. We note better headline asset quality parameters and are sanguine about its loan-growth prospects over FY19-20. The strategic BHAFIN deal would be synergistic in the medium term. We maintain our Buy recommendation.
Our Jul’19 target of `2,248 is based on the two-stage DDM model. This implies a ~4.15x P/ABV multiple on its FY20e book. Risks: Lumpy slippages from the corporate book; any significant negative surprises on asset quality from the microfinance book, post-merger.
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