Buy State Bank of India target of Rs 380: Sharekhan

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Sharekhan's research report on State Bank of India

State Bank of India (SBI) posted weak results for Q1FY2020. Topline and operational performance was below expectations. NII growth was at a multi-quarter low. We have been conservative in our estimates, and, so, while the bank has revised its credit cost/ROA outlook, we maintain our FY2020E/FY2021E earnings.

Outlook

We maintain our Buy rating on the stock with a revised PT of Rs. 380.

For all recommendations report, click here

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