Business · India Bureau
PNB gains analyst backing with fresh target price hikes
Major investment banks have raised their price targets on Punjab National Bank, signaling growing confidence in the lender's prospects. Crompton Greaves Consumer Electricals and Federal Bank also remain in analysts' sights.
LSN India ·
Punjab National Bank has attracted fresh bullish sentiment from major institutional investors, with Kotak Institutional Equities and J.P. Morgan both elevating their stock price targets for the public sector lender.
Kotak Institutional Equities has set a target price of Rs 130 for PNB shares, while J.P. Morgan has pitched its target at Rs 134, reflecting optimism about the bank's operational performance and asset quality trajectory. The upgrades underscore growing investor confidence in the lender's capacity to strengthen its balance sheet and enhance profitability in the coming quarters.
Beyond the banking sector, Kotak has maintained a constructive outlook on Crompton Greaves Consumer Electricals, keeping the company on its bullish watch list. The rating suggests analysts see value in the consumer appliances manufacturer amid evolving market dynamics in India's electrical goods sector.
Federal Bank has similarly retained analyst attention, with the private sector lender remaining under the bullish lens of institutional research teams. The focus on these financial and consumer-oriented stocks reflects market expectations around credit growth, consumer spending, and improving macroeconomic conditions in India.
Photo: Punjab National Bank head office in Dwarka, Delhi, September 2018. Meet.arpit99 via Wikimedia Commons (CC BY-SA 4.0).