Citi has reiterated its Buy call on Bank of Baroda, setting a target price of ₹300 per share, indicating a potential upside of 23% from the current price of ₹244.49. The bank’s global advances growth has exceeded estimates, and deposit growth remains strong despite moderating by 1.6% quarter-on-quarter.
Citi expects the bank’s core net interest margin (NIM) to remain stable, with some pressure in overseas markets. Credit costs are projected to settle at 50-60 basis points, supported by contained slippages. Additionally, better recoveries are expected to further bolster the bank’s earnings.
Disclaimer: This information is for informational purposes only and should not be considered investment advice. Please consult a financial advisor before making any investment decisions.
