BofA securities research on india bank !!
BofA securities gave new target on our Indian banks, let's figure out what it is...
Due to Corona virus economic slow down, NPAs will be increase whether they are companies or individuals, but will increase in NPAs and eventually it will affects banks profits. That's why bank's new targets are going down.
India's biggest private bank HDFC bank.
New rating in HDFC bank is not changed and still it is Buying rating, from BofA.
Old target price was 1200, and new target price is 1150.
Icici bank
Old rating : Buy
New rating : Neutral
Old target price for icici bank was 480 and new target price is 390.
Indusind bank
Old rating : Buy
New rating : Neutral
Old target price for Indusind bank was 1300, and now new target price is 500.
KOTAK Mahindra bank
Old rating : Neutral
New rating : Neutral
Old target price for Kotak mahindra bank was 1350 and new target price is 1450.
Axis bank
Old rating : Neutral
New rating : Neutral
Old target price for Axis bank was at 560, and new target price is 470.
SBI
Old rating : Buy
New rating : Underperform
Old target price was 290, and now new target price is 175.
Bank of baroda
Old rating : neutral
New rating : Underperform
Old target price for Bank of baroda was at 75, new target price is 40.
If you are thinking to invest in banks, my suggestion is don't rush now you will get better opportunity soon.
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