Religare's report on Yes Bank"YES’ share price has corrected ~35% from its Mar’15 peak and offers an attractive buying opportunity at current levels (1.7x FY17E PBV). Concerns over asset quality and forex borrowings are overblown, as we do not anticipate any negative surprises on NPA or credit costs. The bank has an adequate swap structure in place to cover MTM losses on forex borrowings. We expect margins to remain well protected at current levels and loan growth to stay much ahead of peers. Reiterate BUY with a Sep’16 TP of Rs 1075", says Religare research report.For all recommendations, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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