Anand Rathi is bullish on Karur Vysya Bank has recommended buy rating on the stock with a target price of Rs 114 in its research report dated October 04, 2018.
Anand Rathi's research report on Karur Vysya Bank
Significantly slower business growth led to KVB’s weak operating performance overall. However, arrest in slippages in SME and sequential decline in net NPAs were key positives in Q2 FY19. We expect the bank’s asset quality, business growth and profitability to improve in the medium term. We retain our Buy recommendation.
Our Oct’19 target of `114 is based on the two-stage DDM model. This implies a ~1.5x P/ABV multiple on its FY20e book.
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