Federal Bank shares trade flat despite brokerages increasing target prices
Morgan Stanley has maintained an 'Equalweight' rating on the lender, raising its target price to Rs 160 from Rs 145. JP Morgan, meanwhile, has also maintained an 'Overweight' rating on the bank, increasing its target price to Rs 170 from Rs 150.
![Federal Bank shares trade flat despite brokerages increasing target prices](https://cdn.zeebiz.com/sites/default/files/2023/10/17/265161-federal-bank-new.jpg?im=FitAndFill=(1200,900))
Federal Bank on Monday (October 17) released its second-quarter results, reporting a 35.5 per cent (Year on Year) rise in its standalone profit at Rs 935.82 for the July-September quarter. Photo: FIle/Representational