ICICI Direct has given Buy recommendation for Bank of Baroda with a target price of Rs. 120 in its research report issued on Nov 11, 2021

ICICI Direct’s research report on Bank of Baroda

Bank of Baroda is among leading PSU banks with a global loan book of ~Rs 7.3 lakh crore and has better operating metrics among PSBs.Pan-India presence with over 8100 branches The bank has a meaningful presence in international operations with its JVs and subsidiaries. Also, ~12% of total business comes from overseas


We retain our BUY rating on the stock. We value the bank at ~0.85x FY23E ABV and maintain our target price of Rs 120 per share.


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