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BUZZ-India's Bank of Baroda rises; brokerages raise targets after Q2 results
November 15, 2017 / 4:21 AM / 4 days ago

BUZZ-India's Bank of Baroda rises; brokerages raise targets after Q2 results

** Shares of state-run Bank of Baroda Ltd rise as much as 3.4 pct to 180.30 rupees, their highest since Oct. 30

** Bank posted a 36 pct fall in Sept-qtr net profit due to higher provisions for bad loans

** Gross NPA ratio declined to 11.16 pct in Sept-qtr from 11.40 pct previous qtr

** CIMB raises price target to 220 rupees from 190 rupees, retains “add” rating on the stock; says asset quality pressures are receding and growth outlook remains robust

** “Q2 trends reflects a steady improvement in core fundamentals and NPL recognition nearing completion, although we won’t rule out a few lumpy slippages” - Jefferies

** Jefferies raises its target price to 180 rupees from 155 rupees, maintains “hold”

** 23 of 42 brokerages rate the stock “buy” or higher, 12 “hold” and 7 “sell” or lower; their median PT is 180 rupees - Thomson Reuters Eikon data

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