Stock Bets: Brokerages bullish on Bank of Baroda see 50% upside

Despite an unexpected loss in the quarter gone by brokerages continue to be bullish on Bank of Baroda citing asset quality improvement.

CLSA while maintaining their BUY call on the stock have increased the price target price on the stock Rs 130 while raising earnings estimates by 4%-5%. The chinese brokerage expects BoB to have turned the corner as the slippage number comes in much below expectations.

JPMorgan as well citing the low slippage numbers at Rs 3000 cr maintains Overweight stance on BoB but keeps a modest target of Rs 110 on the stock.

Morgan Stanley though retains an Equal-Weight on the stock and is upbeat on the FY'22 outlook recommends its clients to look at a more modest price target of Rs 100/share.