Reiterated a 'Buy' rating on Punjab National Bank (PNB) with a target price of ₹135, indicating a 28% upside potential. The call is supported by controlled provisions, lower opex, and improved margins in Q1 FY27. Healthy asset quality trends with dipping slippages and management's guidance for 12-13% loan growth in FY27 also contribute to the positive outlook.

Motilal Oswal Analysis’s track record: 6 graded calls · 95% CI 19–81%

Punjab National BankBullishCalled 20 Jul 2026
Verdict:PENDING

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