Credit Suisse neutral on Axis Bank, target Rs 525; stock up 1%
Shares of Axis Bank gained 1 percent intraday Thursday. Credit Suisse has maintained neutral rating on the stock with a target of Rs 525 per share.
According to firm, capital raising was much needed for the bank. The company’s FY18-20 EPS estimates to go down by 1-5 percent.
It prefers ICICI Bank, SBI to Axis Bank.
The extra ordinary general meeting of the company will be held on December 7, 2017.
The company’s September quarter net profit rose 35.5 percent at Rs 432.4 crore against Rs 319 crore in the same quarter last year.
At 10:26 hrs Axis Bank was quoting at Rs 544.85, up Rs 2.75, or 0.51 percent on the BSE.
Posted by Rakesh Patil