# Emkay Global Financial Services has reduced its target price for Punjab National Bank by 10%.

*business · news · 2026-05-07 · The Financial Express*

## Key points

- Emkay Global has reduced its target price for Punjab National Bank by 10%.
- The cut is due to declining margins, weak treasury gains, and moderate lending growth.
- Regulatory and asset risks have led Emkay to revise its PNB earnings estimates downward.
- Emkay perceives a 10% downside risk for PNB after its Q4 margin miss.

**Companies:** JPMorgan Chase, Hero MotoCorp, Bajaj Auto, Marico, Punjab National Bank, Aditya Birla Capital
**Countries:** India, United States

[Read the full story on The Financial Express](https://www.financialexpress.com/shorts/trending/pakistani-techie-shares-journey-to-anthropic-urges-young-grads-to-stop-being-scared-of-ai-4234090/)

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