Finance ‘Believing in Yes Bank’s business model was a mistake,’ says Macquarie analyst, downgrades stock Updated : April 29, 2019 03:55 PM IST Macquarie double-downgrade Yes Bank to 'underperform' and cut its target price to Rs 165 The bank posted a loss of Rs 1,507 crore in the March quarter compared to a profit of Rs 1,180 crore a year earlier. According to the brokerage, the loss was amplified by provisions against bad loans to Jet Airways and IL&FS slippages. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.