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