Systematix Initiates Coverage On Five PSB Stocks With 'Buy' & 'Hold' Rating, Sees Upto 33% Upside Potential

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Systematix Report

Given public sector banks’ steadily improving operational parameters and in many aspects becoming at par or even better to private sector banks we see a long-term structural trend building up for public sector banks.

Given their discount in valuation as compared to private peers there seems to be a strong possibility of re-rating.

We initiate coverage on Bank of Baroda, Bank of India, Bank of Maharashtra and Union Bank of India with a Buy rating and Indian Bank with a Hold.

We already had coverage on SBI with a Buy rating.

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