Visit http://indiaer.blogspot.com/ for complete details We maintain our Buy on YES Bank after increasing our target price from INR395 to INR410 following substantial earnings estimate changes; it continues to be one of our top picks in the mid-cap financials segment. 2QFY11 results have adequately demonstrated the bank's ability to maintain profitability at elevated levels despite sharp funding cost increases, while simultaneously retaining adequate buffers on credit quality. Continued aggression on growth and full pass-through of recently introduced lending rate increases could serve as further re-rating catalysts.
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