India's PNB Housing Finance rises on Motilal Oswal PT hike

Motilal Oswal Financial Services

16/01/2024 07:54

** Shares of PNB Housing Finance  PNBH.NS  rise as much as
4% to 829 rupees 
    ** Brokerage maintains PNBH rating at "buy"; hikes PT to
1,025 rupees from 960 rupees, ~25% higher than current price
    ** Motilal Oswal expects co to log PAT compound average
growth rate (CAGR) of 25% in FY24-FY26, co had PAT CAGR of 25%
in FY23
        ** PNBHF is brokerage's top pick due to visibility of
~18% CAGR in loans FY25 onwards, potential NIM expansion, and
continuing asset quality improvement
    ** Stock on track to rise for tenth straight month
    ** Trading vol is 2x 30-day daily avg
    ** Avg rating of nine analysts is "buy", median PT at 825
rupees - LSEG data
    ** Stock rose ~77% in 2023, gaining most in a year since
listing in 2016
    ** PNBH rose for three consecutive years until 2023






 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))