Banking PSU sector
MORGAN STANLEY ON PSU BANKS ; 09.06.2021
* Morgan Stanley upgrades BoB to Overweight and target to Rs 110 as it believes, BOB is best placed amongst non-SBI SOE banks
* FY22 Will See A Tussle Between Higher Restructured Loans & Lower NPLs
* Expect Credit Costs To Moderate In FY22
• Extent Will Depend On Duration Of Existing/New COVID-19 Waves
* BOB Best Placed Amongst Non-SBI SOE Banks
• Upgrade BoB To Overweight, Target Raised To 110/Sh
