India's AU Small Finance Bank jumps on Morgan Stanley's Street-high target

AU Small Finance Bank

13/11/2023 06:51

** Shares of AU Small Finance Bank  AUFI.NS  rise as much as
2.97% to a six-week high of 729 rupees apiece
    ** Morgan Stanley keeps "overweight", raises target price
from 925 rupees to 1,000 rupees, highest among all brokerages
    ** Avg rating of 23 analysts tracking AUFI is "hold" and
median TP is 740 rupees - LSEG data
    ** MS says the NBFC is at an inflection point and is its
"preferred pick" among mid-sized banks
    ** Says AUFI well-placed to more than double earnings over
next three years, including via planned merger with Fincare
    ** AUFI has gained 9% since announcing plan to merger with
Fincare on Oct. 29, and is up ~11% YTD

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))