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    HomeNewsBusinessStocksHold DCB Bank; target of Rs 150: ICICI Direct

    Hold DCB Bank; target of Rs 150: ICICI Direct

    ICICI Direct recommended hold rating on DCB Bank with a target price of Rs 150 in its research report dated March 07, 2017.

    March 08, 2017 / 12:48 IST

    ICICI Direct's research report onDCB Bank

    DCB Bank’s stock price has increased 42% (surpassing those of peers) in the last two months. Such a sharp run up in the stock can be attributed to strong growth in advances (24% YoY) coupled with improvement in asset quality (GNPA at 1.55%) despite demonetisation.

    Outlook

    RoA is expected at 1% in FY17-19E. We revise our target price higher to Rs 150/share, as we roll over to FY19E estimates, valuing the stock at 1.8x FY19E ABV of Rs 81.4. We maintain our HOLD recommendation.

    For all recommendations, click hereDisclaimer: 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.

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    first published: Mar 8, 2017 12:48 pm

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