Why Morgan Stanley upgraded Bank of Baroda

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Morgan Stanley has upgraded Bank of Baroda to ’equalweight’ from ‘underweight’ Saying the the stock is trading at one year forward book value and is relatively better positioned from a balance sheet perspective than other state banks.

The research house said in a note Bank of Baroda’s ability to withstand a more intense asset quality cycle is relatively better than other state-run banks.

At 11:20 am a.m, shares of Bank of Baroda were trading higher by up 2.62 percent at Rs 714.

Reuters