Anand Rathi is bullish on Federal Bank has recommended buy rating on the stock with a target price of Rs 130 in its research report dated July 16, 2019.
Anand Rathi's research report on Federal Bank
In all major perimeters Federal Bank did well, with PAT, deposits and advances growing respectively 46%, 19% and 18% y/y. However, asset quality slightly deteriorated with GNPA increasing 7bps sequentially to 2.99% and slippages came at 1.5% (of the loan book). We retain our positive view on the bank, given the strong business growth prospects, steady margins and stable credit costs.
Outlook
We retain our Buy recommendation, at a higher TP of `130 (earlier `115).
For all recommendations report, click here
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