Jefferies has retained a Hold rating on Bank of Baroda with a target price of ₹255, suggesting a potential upside of around 4.8% from the current market price of ₹243.30.
The bank reported a profit of ₹45 billion, up 2% year-on-year, which was largely in line with the brokerage’s estimates. However, Jefferies highlighted a key negative in the form of rising slippages from international loans.
Additionally, slightly higher provisions on stressed loans have pushed credit costs up to 0.7% of average loans, which remains a concern for the near-term outlook.
Disclaimer: This article is based on Jefferies’ brokerage report and does not constitute investment advice. Please consult a certified financial advisor before making any investment decisions.
