Citi said Edelweiss Financial is confident of maintaining strong asset quality.
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Edelweiss Financial Services shares gained a percent intraday on Wednesday after global investment firm Citi has maintained buy call on the stock with a target price at Rs 215 apiece, implying 23 percent potential upside.
The brokerage believes liquidity conditions have been improved and company has built significant surplus funds.
Structural profit growth of the company may slow as focus is on rebalancing credit mix, according to the research house which said Edelweiss is confident of maintaining strong asset quality.
Hence, next 3-4 quarters will be key w.r.t asset quality, Citi said.
At 11:25 hours IST, the stock was quoting at Rs 175.40, up Rs 0.95, or 0.54 percent on the BSE.
Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol advises users to check with certified experts before taking any investment decisions.First Published on Jan 16, 2019 11:35 am
