JPMorgan Maintains Underweight Rating on Yes Bank with ₹18 Target Price Despite Strong Q4FY26 Results
JPMorgan has assigned an underweight rating to Yes Bank with a ₹18 target price, despite the bank's strong Q4FY26 performance where PAT of ₹10.7 billion beat estimates. The bank achieved its first 1% RoA since reconstruction and improved its cost-to-income ratio to 63%, aided by tight cost control and security receipts recoveries. However, JPMorgan remains cautious about sustainability due to MSME sector risks, elevated cost ratios, and current valuations at 1.2x FY27E P/B that may already price in expected improvements.
20Apr 26
Morgan Stanley Maintains Underweight Rating on Yes Bank with ₹15 Target Price
Morgan Stanley maintains underweight rating on Yes Bank with ₹15 target price as core PPOP met estimates but PAT missed by 2% due to ₹3.4bn one-off provisions. Despite challenges, the bank showed improved NIM quarter-on-quarter above estimates and balance sheet growth accelerated to 11% year-on-year from 3% in previous quarter. Credit costs remained stable aided by recoveries, but Morgan Stanley views current valuation as significantly above fundamentals.
20Apr 26
Nomura Maintains Neutral Rating on Yes Bank with ₹21 Target Price Amid Gradual Recovery
Nomura has assigned a neutral rating to Yes Bank with a ₹21 target price following Q4 FY26 results that showed improving growth, margins, and profitability with ROA reaching 0.95%. However, the brokerage notes that core-ROA recovery remains gradual and expects SR recoveries to moderate from FY26. While profitability levers are in place, execution by the new management team remains a key monitorable factor for the bank's sustained recovery.
18Apr 26
Yes Bank Targets Enhanced Return Ratios and Strategic Growth Over Next Three Years
Yes Bank has unveiled its three-year strategic plan targeting improved return ratios and business expansion. The bank aims to grow its wealth management segment while aligning loan book growth with market rates by FY27, reflecting its commitment to enhanced profitability and competitive positioning.