LKP Research has given Buy recommendation for Bank of Baroda with a target price of Rs. 202 in its research report issued on Sep 17, 2022

LKP Research’s research report on Bank of Baroda

Bank of Baroda (BOB) has been delivering strong performance across parameters. The Asset Quality is witnessing continuous improvement and standard restructuring is at manageable level. Furthermore, the credit growth remains healthy and is expected to grow at a robust pace. Lower credit cost and steady margins may result in strong profitability in FY23E and is expected to beat the guidance.

Outlook

We believe, inexpensive valuation (P/ABVPS: 0.8x) makes BOB lucrative and we are rerating the stock with increased target price of ₹202 (₹146 earlier).

More Info

At 17:30 Bank Of Baroda was quoting at Rs 140.95, up Rs 3.70, or 2.70 percent.

It has touched an intraday high of Rs 143.40 and an intraday low of Rs 136.40.

It was trading with volumes of 1,683,529 shares, compared to its thirty day average of 1,504,932 shares, an increase of 11.87 percent.

In the previous trading session, the share closed down 2.03 percent or Rs 2.85 at Rs 137.25.

The share touched its 52-week high Rs 143.40 and 52-week low Rs 76.90 on 19 September, 2022 and 21 September, 2021, respectively.

Currently, it is trading 1.71 percent below its 52-week high and 83.29 percent above its 52-week low.

Market capitalisation stands at Rs 72,890.35 crore.

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