Sharekhan is is bullish on Bajaj Finance has recommended buy rating on the stock with a target price of Rs 2700 in its research report dated May 19, 2020.
Sharekhan's research report on Bajaj Finance
Bajaj Finance Ltd (BFL) reported mixed Q4FY20 numbers, wherein operational numbers were better than expectations, but a spike in provisions (mainly due to COVID-19 related provisions and one-offs) dragged down PAT. We believe business normalisation and demand recovery may take time, and hence medium-term growth is likely to be slower. However, we believe that a strong balance sheet, strong risk management and prudent management make BFL a strong franchise for the long run and company well-placed to ride over medium-term challenges.
Outlook
We maintain a Buy rating on Bajaj Finance with a revised price target of Rs. 2,700.
For all recommendations report, click here
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