Goldman Sachs has maintained a 'buy' rating on Bandhan Bank with a target price of Rs 443, which suggests a 48 percent upside potential from current levels.
On the point of peaking of asset quality cycle for Bandhan Bank, the firm believes that the bank is well placed as far as consolidated market share is concerned; also the recoveries are going to be strong given the sticky customer base.
While the brokerage house has lowered the FY22 EPS estimates by 4 percent on higher slippages, it remains confident that the bank will be able to deliver the returns of 4.5 percent on RoA and almost 23 percent on RoE by FY24.
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