Federal Bank share price rose more than 2 percent intraday on February 20 after research house Morgan Stanley upgraded the stock to equal-weight from underweight rating.
The research house also raised the target to Rs 95 from Rs 80 per share.
The valuations are favourable at current levels and continue to expect gradual roe recovery, given low coverage, it added.
At 09:47 hrs, Federal Bank was quoting at Rs 86.30, up Rs 1.85, or 2.19 percent.
The share touched its 52-week high Rs 110.35 and 52-week low Rs 78.40 on 03 July 2019 and 22 February 2019, respectively.
Currently, it is trading 21.79 percent below its 52-week high and 10.08 percent above its 52-week low.
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