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FEDERALBNK Share Price Target
Federal Bank Ltd.
Sector: Banks
Sector: Banks
FEDERALBNK Share Price *
84.6 +0.85 (1.01%)
* (quote may be delayed)
FEDERALBNK Share Price Forecast - Consensus
| No. of reports in last year | 39 |
| No. of analysts | 17 |
| Average Consensus Forecast | 114.51 |
| Consensus Potential | 25.71% |
FEDERALBNK Share Price Target - Broker Reports - 2019
Joindre Capital Services
30-Aug-19
Price @ Call: 81.61
Target: 125
BUY
A stronger strategic focus on improving retail business, digital experience and reducing stress will continue to aid healthy performance, going ahead. Return ratios are also seen improving led by margin expansion, operating leverage and stable asset quality levels. Hence we believe that the FBL stock should be purchased at the current price for a price target of around Rs 125 over the next 15 to 18 months wherein the stock is current valued at 1.12x PB based on FY20 and 1x FY20 BV. We expect that FBL could easily command a PB of 1.50x based on its earnings profile, steady deposit and CASA levels and focus on retail which could help the bank grow at a healthy pace ahead.
Axis Direct
22-Aug-19
Price @ Call: 82.2
Target: 114
BUY
We are apprehensive about Minda’s growth and profitability in FY20 in the wake of unprecedented domestic slowdown and KTSN challenges with possible overhangs in Q1FY21 as well. Accordingly, we downgrade revenue estimate and expect Minda Corp to post revenues at a CAGR of 3.5% (10% earlier) and profits at CAGR of -2% (15% earlier) over FY19-FY21E. However, we also take cognizance of the fact that Minda Corp’s stock price has over corrected (down 47% in FY20 itself) and Minda Corp is still wellpositioned (ex KTSN) in the industry owing to high entry barriers and being a diversified player in auto ancillary industry, uptick in its Mechatronics business and sticky clientele. We therefore maintain a BUY in Minda Corp. at reduced P/E multiple of 14XFY21E (5 year PE average -1 STD) to arrive at a target price of Rs 99 (28%upside).
Geojit Financial Services
22-Jul-19
Price @ Call: 98.85
Target: 110
ACCUMULATE
Valuations: Federal Bank is currently trading at Adj. P/B of 1.51/1.35 for FY20E and FY21E respectively. Though we are cautious over the retail slippages and bank’s exposure to housing finance companies, we expect higher return ratios going forward. Hence, we maintain our valuation at 1.5x Adj. BV of FY21E and retain our Accumulate rating with a revised downward target price of Rs110.
Reliance Securities
18-Jul-19
Price @ Call: 103.05
Target: 120
HOLD
Lower incremental stress from corporate book is expected to aid the Bank’s overall slippages, even as we continue to be watchful of its SME and retail portfolio in Kerala. Going forward, we expect decline in credit cost, improving operating leverage and traction in fee-based income to drive its profitability. We maintain our BUY recommendation on the stock with a revised Target Price of Rs120 (from Rs115 earlier), implying an adjusted PBV of 1.6x FY21E (from 1.5x earlier).
HDFC Securities
18-Jul-19
Price @ Call: 103.05
Target: 117
HOLD
Despite factoring higher slippages and provisions towards stressed exposures, FB can deliver earnings CAGR of ~28% led by operating leverage and better core performance, especially asset quality. To be sure, FB has stumbled in the past but several corrective initiatives are probably paying off, finally. UPGRADE to BUY with a TP of Rs 117.We upgrade Federal Bank to BUY (TP Rs 117, 1.5x June-21 ABV of Rs 77) after a better than expected show across parameters, in a seasonally weak quarter. Further consistency can lead on to significantly better outcomes.
Arihant Capital Markets
18-Jul-19
Price @ Call: 103.05
Target: 122
ACCUMULATE
We believe the Bank is on track to achieve return ratios trajectory like RoA / RoE to healthy levels of 1.1%/13% by FY21E. Healthy loan growth with a sustainable margin, improving yields and strong operating performance drives our earnings growth. At CMP of Rs 107, currently it is trading at 1.5(x) to its FY21E ABV, which is quite reasonable at this juncture. We have valued the stock at 1.7x P/ABV and arrived at a fair value of Rs 122 per share, giving a potential upside of 14%.
AnandRathi
18-Jul-19
Price @ Call: 103.05
Target: 130
BUY
In all major perimeters Federal Bank did well, with PAT, deposits and advances growing respectively 46%, 19% and 18% y/y. However, asset quality slightly deteriorated with GNPA increasing 7bps sequentially to 2.99% and slippages came at 1.5% (of the loan book). We retain our positive view on the bank, given the strong business growth prospects, steady margins and stable credit costs. We retain our Buy recommendation, at a higher TP of Rs 130 (earlier Rs115).
ICICIdirect.com
17-Jul-19
Price @ Call: 107.35
Target: 125
BUY
A strategic focus on improving retail business, digital experience and reducing stress will continue to aid healthy performance, going ahead. Return ratios are seen improving led by margin expansion, operating leverage and stable asset quality. Overall, the bank is on the path towards building strong sustainable earnings. We maintain our positive stance on the stock with a BUY rating and an unchanged target price of Rs 125 per share, valuing the stock at ~1.7xFY21E ABV.
Nirmal Bang
17-Jul-19
Price @ Call: 107.35
Target: 135
BUY
FBL posted a net interest income (NII) growth of 18% YoY to Rs11,542mn, PPOP growth of 30% YoY to Rs7,828mn and PAT growth of 46% YoY to Rs3,842mn. We have revised our estimates for FY20/FY21 and have retained Buy rating on FBL, revising our target price to Rs135 (from Rs134 earlier) and valuing the stock at 1.5x FY21E P/BV.
Sharekhan
17-Jul-19
Price @ Call: 107.35
Target: 128
BUY
FEDBK currently trades at ~1.3x its FY2021E book value, which we believe is attractive. The tenure of the bank’s MD and CEO is up for renewal (current tenure is till September 2019) and will be a key monitorable. Hence, while there are few overhangs present, we believe present valuation and improving business mix are positive factors, making risk-reward in favour of the investor. We maintain our Buy rating with a revised PT of Rs. 128.
Motilal Oswal
17-Jul-19
Price @ Call: 107.35
Target: 125
BUY
FB has maintained strong momentum in business growth and is reporting a gradual improvement in operating earnings. It has limited exposure to stressed entities, while the healthy coverage ratio of 67.4% (including TWO) will likely facilitate controlled credit costs. With stronger growth in retail and management guidance of increasing the retail mix to 50%, the margins will likely improve gradually. We raise our FY20/21 PAT estimate by 0.9%/2.4%. Over FY19-21, we expect 20bp RoA expansion and RoE improvement to 13.3%.Maintain Buy with revised PT of INR125 (1.6x FY21E ABV).
Prabhudas Lilladher
16-Jul-19
Price @ Call: 107.15
Target: 121
BUY
While on operating metrics bank expects loan growth of 18-20% with NIM improving to 3.2% and continued fee traction which will help achieve ROA of 1.1/1.25% by FY20/FY21. We believe, return ratios are on track to improve with moderate risk on asset quality but valuation remains reasonable, hence we retain BUY with revised TP of Rs121 (from 112) based on 1.65x Mar-21 ABV.
Indiabulls Ventures
26-Jun-19
Price @ Call: 103.85
Target: 122
BUY
Nirmal Bang
22-May-19
Price @ Call: 101.35
Target: 135
BUY
We recently met with Mr. Shyam Srinivasan, CEO of Federal Bank (FBL) and gleaned incremental insight into the strategy of the company. We share our detailed takeaways below. We revise our estimates for FY20/FY21 and retain Buy rating, revising our target price to Rs135 (from Rs134 earlier), valuing the stock at 1.5x FY21E (or 1.8x FY20E) P/BV.FBL remains one of our top picks in the banking sector.
ICICIdirect.com
7-May-19
Price @ Call: 100.08
Target: 125
BUY
Reliance Securities
6-May-19
Price @ Call: 100.77
Target: 115
BUY
The Bank continues to enjoy a strong retail liability franchise with high share of retail deposits. Healthy traction in fee-based income over the last few quarters is also expected aid earnings. Additionally, low incremental stress from corporate book should aid overall slippages. Nonetheless, we would remain watchful of the Bank’s Kerala portfolio for any likely volatility in slippages. We maintain our BUY recommendation on the stock with an unchanged Target Price of Rs115, implying an adjusted PBV of 1.5x FY21.
Kotak Securities
6-May-19
Price @ Call: 97.75
Target: 130
BUY
Motilal Oswal
6-May-19
Price @ Call: 97.75
Target: 120
BUY
Prabhudas Lilladher
5-May-19
Price @ Call: 96.66
Target: 112
BUY
Sharekhan
4-Apr-19
Price @ Call: 95.65
Target: 110
BUY
Axis Direct
11-Mar-19
Price @ Call: 87.5
Target: 100
BUY
HDFC Securities
21-Jan-19
Price @ Call: 89.8
Target: 93
NEUTRAL
Geojit Financial Services
21-Jan-19
Price @ Call: 89.8
Target: 99
ACCUMULATE
Nirmal Bang
21-Jan-19
Price @ Call: 89.56
Target: 122
BUY
Prabhudas Lilladher
18-Jan-19
Price @ Call: 88.65
Target: 102
BUY
Motilal Oswal
18-Jan-19
Price @ Call: 88.65
Target: 115
BUY
Edelweiss
18-Jan-19
Price @ Call: 88.65
Target: 121
BUY
LKP Securities Limited
18-Jan-19
Price @ Call: 88.65
Target: 121
BUY
ICICIdirect.com
18-Jan-19
Price @ Call: 88.65
Target: 110
BUY
FEDERALBNK Share Price Target - Broker Reports - 2018
LKP Securities Limited
24-Dec-18
Price @ Call: 94.1
Target: 121
BUY
Axis Direct
27-Nov-18
Price @ Call: 80.79
Target: 103
BUY
Arihant Capital Markets
23-Oct-18
Price @ Call: 79.45
Target: 92
ACCUMULATE
Centrum
23-Oct-18
Price @ Call: 79.45
Target: 85
HOLD
Geojit Financial Services
20-Oct-18
Price @ Call: 79.94
Target: 87
ACCUMULATE
Nirmal Bang
19-Oct-18
Price @ Call: 78.55
Target: 117
BUY
Motilal Oswal
17-Oct-18
Price @ Call: 80.78
Target: 105
BUY
HDFC Securities
17-Oct-18
Price @ Call: 80.78
Target: 89
NEUTRAL
Reliance Securities
17-Oct-18
Price @ Call: 80.78
Target: 141
BUY
Prabhudas Lilladher
16-Oct-18
Price @ Call: 75.7
Target: 102
BUY
Sharekhan
18-Sep-18
Price @ Call: 77.7
Target: 84
HOLD
HDFC Securities
23-Aug-18
Price @ Call: 81.9
Target: 103
NEUTRAL
Centrum
23-Jul-18
Price @ Call: 85.65
Target: 99
HOLD
Arihant Capital Markets
19-Jul-18
Price @ Call: 85.9
Target: 106
ACCUMULATE
Sharekhan
18-Jul-18
Price @ Call: 88.3
Target: 120
BUY
ICICIdirect.com
18-Jul-18
Price @ Call: 88.3
Target: 105
BUY
Geojit Financial Services
18-Jul-18
Price @ Call: 88.3
Target: 101
ACCUMULATE
Prabhudas Lilladher
18-Jul-18
Price @ Call: 88.3
Target: 119
BUY
Edelweiss
18-Jul-18
Price @ Call: 88.3
Target: 130
BUY
Motilal Oswal
18-Jul-18
Price @ Call: 88.3
Target: 110
BUY
HDFC Securities
18-Jul-18
Price @ Call: 88.3
Target: 103
NEUTRAL
AnandRathi
18-Jul-18
Price @ Call: 88.3
Target: 112
BUY
JM Financial
18-Jul-18
Price @ Call: 88.3
Target: 120
BUY
Edelweiss
18-Jun-18
Price @ Call: 83.95
Target: 130
BUY
Nirmal Bang
14-Jun-18
Price @ Call: 86.75
Target: 116
BUY
Arihant Capital Markets
14-May-18
Price @ Call: 89.99
Target: 94
NEUTRAL
Geojit Financial Services
11-May-18
Price @ Call: 89.45
Target: 101
ACCUMULATE
Motilal Oswal
10-May-18
Price @ Call: 101.15
Target: 127
BUY
Prabhudas Lilladher
10-May-18
Price @ Call: 101.15
Target: 128
BUY
Edelweiss
10-May-18
Price @ Call: 101.15
Target: 130
BUY
HDFC Securities
10-May-18
Price @ Call: 101.15
Target: 102
NEUTRAL
ICICIdirect.com
10-May-18
Price @ Call: 101.15
Target: 105
BUY
Reliance Securities
19-Mar-18
Price @ Call: 93.2
Target: 150
BUY
Reliance Securities
12-Mar-18
Price @ Call: 93.8
Target: 150
BUY
Geojit Financial Services
23-Jan-18
Price @ Call: 101.55
Target: 131
BUY
Arihant Capital Markets
17-Jan-18
Price @ Call: 104.75
Target: 120
ACCUMULATE
Reliance Securities
17-Jan-18
Price @ Call: 104.75
Target: 150
BUY
Motilal Oswal
16-Jan-18
Price @ Call: 113.25
Target: 149
BUY
Edelweiss
16-Jan-18
Price @ Call: 113.25
Target: 152
BUY
Kotak Securities
16-Jan-18
Price @ Call: 113.25
Target: 140
BUY
Centrum
16-Jan-18
Price @ Call: 113.25
Target: 130
HOLD
HDFC Securities
16-Jan-18
Price @ Call: 106.92
Target: 138
BUY
Nirmal Bang
16-Jan-18
Price @ Call: 106.92
Target: 153
BUY
Prabhudas Lilladher
15-Jan-18
Price @ Call: 113.91
Target: 134
BUY
Reliance Securities
10-Jan-18
Price @ Call: 115.05
Target: 150
BUY
Indiabulls Ventures
5-Jan-18
Price @ Call: 111.33
Target: 128
BUY
FEDERALBNK Share Price Target - Broker Reports - 2017
Reliance Securities
14-Nov-17
Price @ Call: 114.5
Target: 150
BUY
AnandRathi
13-Nov-17
Price @ Call: 112.35
Target: 140
BUY
Axis Direct
31-Oct-17
Price @ Call: 121.9
Target: 139
BUY
Arihant Capital Markets
23-Oct-17
Price @ Call: 124
Target: 139
HOLD
Geojit Financial Services
18-Oct-17
Price @ Call: 125.85
Target: 142
ACCUMULATE
ICICIdirect.com
17-Oct-17
Price @ Call: 124.8
Target: 140
BUY
Motilal Oswal
17-Oct-17
Price @ Call: 124.8
Target: 146
BUY
Prabhudas Lilladher
16-Oct-17
Price @ Call: 121.96
Target: 144
BUY
Geojit Financial Services
21-Sep-17
Price @ Call: 120.2
Target: 134
BUY
HDFC Securities
11-Sep-17
Price @ Call: 111.3
Target: 134.5
BUY
Geojit Financial Services
11-Sep-17
Price @ Call: 111.3
Target: 140
BUY
Angel Broking
2-Aug-17
Price @ Call: 115
Target: 140
BUY
HDFC Securities
27-Jul-17
Price @ Call: 115
Target: 129
BUY
ICICIdirect.com
27-Jul-17
Price @ Call: 115
Target: 140
BUY
Geojit Financial Services
27-Jul-17
Price @ Call: 113
Target: 134
BUY
Edelweiss
26-Jul-17
Price @ Call: 115
Target: 134
BUY
Motilal Oswal
26-Jul-17
Price @ Call: 115
Target: 139
BUY
Centrum
3-May-17
Price @ Call: 112
Target: 124
BUY
Kotak Securities
2-May-17
Price @ Call: 113
Target: 120
BUY
ICICIdirect.com
2-May-17
Price @ Call: 108
Target: 130
BUY
Arihant Capital Markets
28-Apr-17
Price @ Call: 107
Target: 122
ACCUMULATE
Motilal Oswal
28-Apr-17
Price @ Call: 107
Target: 125
BUY
HDFC Securities
28-Apr-17
Price @ Call: 107
Target: 116
BUY
ICICIdirect.com
13-Apr-17
Price @ Call: 93
Target: 110
BUY
ICICIdirect.com
23-Jan-17
Price @ Call: 78
Target: 87
BUY
HDFC Securities
20-Jan-17
Price @ Call: 77
Target: 93
BUY
Axis Direct
20-Jan-17
Price @ Call: 78
Target: 96
BUY
Edelweiss
19-Jan-17
Price @ Call: 77
Target: 100
BUY
Prabhudas Lilladher
19-Jan-17
Price @ Call: 77
Target: 86
BUY
Arihant Capital Markets
19-Jan-17
Price @ Call: 77
Target: 96
BUY
FEDERALBNK Share Price Target - Broker Reports - 2016
Angel Broking
1-Dec-16
Price @ Call: 71
Target: 85
BUY
Edelweiss
25-Oct-16
Price @ Call: 79.02
Target: 88
BUY
Motilal Oswal
14-Oct-16
Price @ Call: 70.7
Target: 90
BUY