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Analysts say 'no' to YES Bank stock, cut 12-month target price by 40%

Large stressed pool, aggressive accounting practices and weakness in the retail franchise are among the reasons cited by analysts for their bearish stance

YES Bank Photo: Reuters
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YES Bank Photo: Reuters

Samie Modak Mumbai
Analysts have downgraded the shares of YES Bank following the announcement of its March quarter results, where it reported a net loss of Rs 1,506 crore. Analysts have cut their 12-month price target by as much as 40 per cent and scaled back their earnings growth forecasts by up to 45 per cent for FY20 and also FY21. Large stressed pool, aggressive accounting practices and weakness in the retail franchise are among the reasons cited by analysts for their bearish stance.
 
“We and the Street both underestimated risks in structured finance. We cut EPS (earnings per share) by 45

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First Published: Apr 30 2019 | 12:42 AM IST

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