Anand Rathi is bullish on Jammu and Kashmir Bank has recommended buy rating on the stock with a target price of Rs 64 in its research report dated January 15, 2019.
Anand Rathi's research report on Jammu and Kashmir Bank
With its contracting stressed pipeline, steady repayments from the large restructured book and focus on lending in its home state, we believe J&K Bank?s core operating parameters will gradually improve. Given the recent fall in the stock price, we alter our recommendation to a Buy.
Our Jan?20 target (`64) is based on the two-stage DDM model. This implies a ~0.6x P/ABV multiple on its FY21e book.
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