<ul data-eligibleForWebStory="false"><li>Morgan Stanley and Citi Research maintain a bearish stance on Punjab National Bank Ltd. The former has an 'underweight' rating with a target price of Rs 100, while the latter retains a 'sell' rating with a target price of Rs 101.</li><li>Punjab National Bank's loan growth has decelerated post first quarter update and is now in line with the system. Domestic loans and deposit growth have moderated compared to the previous quarter.</li><li>Citi expects bank's RAM segments to drive growth, with deposits growth at 12.8% year-on-year and management guiding for loan growth of 11-12%, deposit growth of 9-10%, and NIM of 2.8-2.9% for FY26.</li><li>The management's guidance suggests a potential fall in NII and NIMs due to the higher EBLR book, but contained credit cost could lead to a RoA of 0.9-1%.</li></ul>

Punjab National Bank Has Morgan Stanley 'Underweight', Citi In 'Sell' Mode Post Q1 Update

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