The price targets imply a 1-19% rise in the stock over its Tuesday closing price of ₹168.5. City Union Bank shares rallied 11.9% on Tuesday in a weak market in response to the September quarter earnings.
By ET Bureau | Updated:
Agencies
"Further re-rating will be conditioned on smooth transformation of bank into a retail cum SME bank and the management transition," said Emkay Global.
Mumbai: Analysts at brokerage firms raised their ratings or maintained their 'buy' ratings on City Union Bank (CUB) after the better-than-expected second-quarter results.
The price targets imply a 1-19% rise in the stock over its Tuesday closing price of ₹168.5. City Union Bank shares rallied 11.9% on Tuesday in a weak market in response to the September quarter earnings.
"While this is the first quarter for all the three metrics to show improving trends, the bank is in a favourable cycle on the AQ (asset quality) front due to its secured nature."
"Further re-rating will be conditioned on smooth transformation of bank into a retail cum SME bank and the management transition," said Emkay Global.
City Union Bank to raise over Rs 500 crore through QIP
