Morgan Stanley has raised its price targets on , Bank of Baroda, PNB and Canara Bank as it expects the sustained cyclical recovery to percolate to state-owned banks other than as well.
The brokerage said it sees potential for higher stock returns in Bank of India and BoB.
“Although we think SBI remains the best state-owned bank, we see potential for notably higher stock returns in BOI and BOB due to much cheaper valuations,” said Morgan Stanley in a client note.
“As the cyclical recovery is sustained, we expect benefits to percolate to non-SBI SoE (state owned enterprises) banks as well.”
Denial of responsibility! TechnoCodex is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.
