Buy Yes Bank, target of Rs 260: Emkay
Emkay Research has maintained buy rating on Yes Bank with a price target of Rs 260 in its April 10, 2008 research report. “The Bank reported strong set of numbers for 4QFY08, partially allaying the concerns on its exposure to Forex derivatives. The bank has reported Rs 645 mn of net profit for Q4 FY08, far ahead of research firm expectations of Rs 558 mn.
“We remain upbeat on Yes Bank’s business model of knowledge expertise and robust balance between fund and non-fund based services. The entry into new businesses which are relatively less capital intensive will add further value to the bank.”
