IIFL has reiterated its Buy rating on Bank of Baroda, adjusting the target price to ₹300 from ₹310, suggesting a potential upside of approximately 25.5% from the current market price of ₹239.00.
Key Points from IIFL’s Analysis
- Business Growth Guidance Lowered: Management has reduced its business growth guidance by 1 percentage point.
- Slower Growth and NIM Pressure: IIFL has factored in slower growth and lower Net Interest Margins (NIMs), expecting further moderation due to residual deposit re-pricing.
- Attractive Valuations: Despite the adjustments, IIFL maintains a Buy rating, citing the stock’s attractive relative valuations.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should consult their financial advisors before making investment decisions.
