Get Annual plan at only Rs 289. Morgan Stanley has cut estimates and price target and find risk-reward still unfavourable.
Moneycontrol News
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Shares of Yes Bank slipped 2 percent in the early trade on September 4 after global research house Morgan Stanley maintained underweight rating on the stock, slashing the target price to Rs 55 from Rs 95 per share.
According to research house, the volatility shows asset quality concerns, lack of clarity on timing and price of further fundraising.
The brokerage has cut estimates and price target and find risk-reward still unfavourable. It is targeting a CET-1 ratio of 10 percent by end of FY21.
At 0922 hrs, Yes Bank was quoting at Rs 58.05, down Rs 0.75, or 1.28 percent on the BSE.
The share touched its 52-week high of Rs 369.85 and its 52-week low of Rs 53.15 on 30 August, 2018 and 22 August, 2019, respectively.
Currently, it is trading 84.32 percent below its 52-week high and 9.13 percent above its 52-week low.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.First Published on Sep 4, 2019 09:37 am
