Yes Bank: Systemix puts ‘buy’ recommendation on stock, target price Rs 897-930-1,022

Private sector lender Yes Bank, in the news recently over two of its directors, M R Srinivasan and Diwan Arun Nanda, assuming office Friday and cutting base rate from 10.75 per cent to 10.50 per cent, got a boost with Systemix putting a ‘buy’ recommendation on its stock.

Yes Bank stock is expected to move in a range, and above Rs 844 would lead to the upper levels of the range – Rs 897-909. On breakout above Rs 909, its next target would be Rs 930-971-1,022 levels.

Recommendation

CMP of Rs 830, ‘buy’ in the range of Rs 830-823, stop loss at Rs 798 on closing basis, and the target is Rs 897-930-1,022 in a time period of one to three months.

Yes Bank