BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Nomura upgrades Punjab National Bank to buy
Nomura has upgraded Punjab National Bank to buy for target price of Rs 180. It says after the 24% correction in the past two months, we believe incremental risk-reward is turning favourable again for PNB. Near-term provisioning will remain elevated given the lower coverage of 41%, but the large stock of prudentially written-off NPAs provides comfort on recoveries/upgrades.