Edelweiss Financial Services gains as Citi sees 23% upside

Citi said Edelweiss Financial is confident of maintaining strong asset quality.

Edelweiss Financial Services shares gained a percent intraday on Wednesday after global investment firm Citi has maintained buy call on the stock with a target price at Rs 215 apiece, implying 23 percent potential upside.

The brokerage believes liquidity conditions have been improved and company has built significant surplus funds.

Structural profit growth of the company may slow as focus is on rebalancing credit mix, according to the research house which said Edelweiss is confident of maintaining strong asset quality.

Hence, next 3-4 quarters will be key w.r.t asset quality, Citi said.

At 11:25 hours IST, the stock was quoting at Rs 175.40, up Rs 0.95, or 0.54 percent on the BSE.

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