Reiterated a 'Buy' call on PNB with a target price of ₹135, implying 21% upside potential. The Q1 FY27 earnings beat was led by controlled provisions and lower opex, reflecting strong asset quality and reduced slippages. Management guided for healthy loan growth of 12-13% in FY27, supporting the positive outlook.

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

Punjab National BankBullishCalled 21 Jul 2026
Verdict:PENDING

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