Bank of Baroda Q4 results get a thumbs-up from brokerages
1 year, 7 months ago

Bank of Baroda Q4 results get a thumbs-up from brokerages

Live Mint  

Stock market today: Most brokerage firms cheered the strong March quarter numbers of Bank of Baroda as the public sector lender's standalone profit after tax more than doubled in Q4 FY23. In the last one year, the stock has rallied 82 per cent against a 13 per cent gain in the equity benchmark Sensex, thanks to its strong credit growth and improving asset quality. Brokerage firm Motilal Oswal Financial Services maintained a 'buy' call on the stock with a target price of ₹240, implying a 29 per cent upside potential. The brokerage firm has pegged the target price of ₹230, implying a 23 per cent upside potential as it said BoB continued reporting strong earnings growth on the back of margin expansion and improving asset quality matrix. "We maintain add rating with a revised fair value of ₹200, valuing the bank at 0.9 times book and 7 times FY25E EPS for RoEs of about 14-15 per cent," Kotak said.

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