Sharekhan is bullish on Federal Bank has recommended buy rating on the stock with a target price of Rs 60 in its research report dated July 15, 2020.
Sharekhan's research report on Federal Bank
Federal Bank (FB) posted operationally strong performance for Q1FY2020, helped mainly by treasury gains, cost control and sequentially lower slippages which helped offset elevated provisions and lower fee income. The moratorium book (net) now stands at 24%, PCR stands at 58.5% with stressed book at 1.14%, which provides support. Management indicated that headwinds would continue and may see a spike in NPAs in Q3, growth outlook is likely to be cautious.
Outlook
We maintain our Buy rating on the stock with an unchanged price target (PT) of Rs. 60.
For all recommendations report, click here
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