Motilal Oswal Rates Bank of Baroda 'Neutral' with Rs 320 Target Price

• Bank of Baroda (BOB) reported 3QFY26 PAT of INR50.5 billion, a 4.5% YoY increase, exceeding estimates by 4% due to lower provisions.
• Net Interest Income (NII) was INR118 billion, up 3.4% YoY but down 1.3% QoQ, missing estimates by 5%.
• Reported Net Interest Margins (NIMs) decreased by 17 basis points QoQ to 2.79%.
• Robust business growth was observed with advances up 15.1% YoY and deposits up 10% YoY.
• Motilal Oswal retains a 'Neutral' rating for BOB, increasing FY27/FY28 earnings estimates by 4.3%/2.8% and setting a target price of INR320.

Why It Matters: Motilal Oswal maintains a 'Neutral' rating on Bank of Baroda with a Rs 320 target price.