Pending — not yet graded
“Upgraded Punjab National Bank (PNB) to 'ADD' with a revised target price of ₹120, up from ₹110, valuing the bank at 0.8x FY28E BVPS. This reflects an improved earnings outlook, with FY27E and FY28E EPS estimates raised by 18% and 15% respectively, driven by improving core profitability, healthy asset quality trends, and a favorable loan mix. FCNR mobilization offers additional funding cost support.”
JM Financial Analysis’s track record: 4 graded calls · 95% CI 5–70%
Punjab National BankBullishCalled 20 Jul 2026
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