Anand Rathi is bullish on Karnataka Bank has recommended buy rating on the stock with a target price of Rs 60 in its research report dated October 19, 2020.
Broker Research
Anand Rathi 's research report on Karnataka Bank
Higher margins and lower opex led to sharp, ~21% y/y, PPOP growth for Karnataka Bank. The standstill on NPA recognition led to asset quality and PCR improving.
Outlook
With earnings expected to pick up in FY22 and limited downside from current levels, we maintain a Buy, at a TP of Rs60 valuing it at 0.3x P/ABV on its FY22e book.
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Read MoreFirst Published on Oct 21, 2020 12:12 pm