Morgan Stanley has maintained an ‘Equal Weight’ rating on Bank of Baroda, with a target price of ₹270/share, reflecting a potential upside of 11.7% from the current market price (CMP) of ₹241.73.
The bank’s gross loan growth moderated to 2.5% quarter-on-quarter (QoQ) compared to 6.7% QoQ in the previous quarter. However, domestic retail loan growth remained strong at 4.7% QoQ, highlighting resilience in the retail segment. Deposit growth improved significantly to 11.8% year-on-year (YoY), up from 9% YoY in the prior quarter, showcasing a strengthening deposit base.
Morgan Stanley believes the bank’s balanced growth metrics and improving deposits remain key positives for the stock.
Disclaimer: The above analysis is based on inputs provided and is for informational purposes only. It does not constitute financial advice. Readers are advised to consult their financial advisors before making any investment decisions.
