JM Financial's research report on Yes Bank
We recently met the senior management of Yes Bank to get a qualitative understanding of the impact of recent RBI guidelines on stressed assets, recent growth trends as well as medium-term outlook. We present our key takeaways below in a Q&A format.
Outlook
Our positive view on YES is based on a) its strong PPOP engine b) robust growth trajectory c) strong recovery capabilities and d)valuations which we believe adequately factor the risks.Maintain BUY with TP of INR 450 valuing Yes at 2.9x fully adjusted FY20EBVFor all recommendations report, click here
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