India's AU Small Finance Bank gains as Goldman forecasts steady earnings growth

AU Small Finance Bank

05/09/2024 09:58

** AU Small Finance Bank  AUFI.NS  rises ~2% to 7-month high
of 701 rupees
    ** Goldman Sachs starts with "buy" and PT of 831 rupees
    ** Expects AUFI to post EPS growth of 27% CAGR over FY24-27
    ** Says co gaining market share in deposits despite modest
growth in sector
    ** Adds AUFI is expected to see robust loan growth and
benefit from its asset quality control and merger with Fincare
Small Finance Bank
    ** AUFI up ~4% since Tuesday, when co announced universal
bank license application
    ** Goldman sees stock ready to transition to universal bank
    ** Avg rating of 22 analysts is "buy"; median PT is 700
rupees - LSEG data

 (Reporting by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))