BoFA Securities has revised its price targets for two leading public sector banks in India, Union Bank of India (NS:) and Canara Bank (NS:), following their robust September quarter earnings. The brokerage firm has set a new target for Union Bank at ₹140, up from ₹130, and for Canara Bank at ₹490, up from ₹455. These revisions suggest potential gains of approximately 34% for Union Bank and 25% for Canara Bank, with both institutions receiving a ‘buy’ recommendation.The NIFTY PSB index, which includes these banks, has recently outperformed the broader NIFTY Banks index by rising 11%. This bullish sentiment is underpinned by Canara Bank’s impressive financial performance, with…
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Union Bank and Canara Bank targets raised by BoFA Securities
