Macquarie upgrades Yes Bank to 'outperform' on high margins

Macquarie has upgraded Yes Bank to "outperform" from "neutral" and raised its target price to Rs 415 from Rs 380, saying current levels "offers good opportunity to accumulate."

It expects the falling wholesale rates and the improving current account savings account (CASA) ratio will help margins, which are likely to rise from 2.8 percent to 3.2 percent in the next three years.


"Higher margins should give YES Bank a cushion against a possible credit cost rise due to asset quality issues," it said in a note.

Macquarie also said that the private lender has a very well-diversified portfolio with no concentration in any specific sector and the quantum of restructured assets is well below that of its peers.


Updated Date: Dec 20, 2014 19:47 PM

Also Watch

IPL 2018: Royal Challengers Bangalore eye revival against Chennai Super Kings as 'Cauvery Derby' comes back to life
  • Thursday, April 26, 2018 In the Kanjarbhat community, a campaign against 'virginity tests' is slowly gaining ground
  • Tuesday, April 24, 2018 It's A Wrap: Beyond the Clouds stars Ishaan Khatter, Malavika Mohanan in conversation with Parul Sharma
  • Monday, April 9, 2018 48 hours with Huawei P20 Pro: Triple camera offering is set to redefine smartphone imaging
  • Monday, April 16, 2018 Rajyavardhan Singh Rathore interview: Sports can't be anyone's fiefdom, we need an ecosystem to nurture raw talent