L038;T Fin stock gets Rs 55 price target

Citi has started coverage of Lamp;T Finance Holdings stock with a 'hold' rating and a target price of Rs 55.

September 23, 2011 11:54 AM IST

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Citi has started coverage of Lamp;T Finance Holdings stock with a 8216;hold8217; rating and a target price of Rs 55.

Citi believes that the company8217;s more diversified loan book,strong risk assessment skills and relationships were the reasons to start the coverage of the company.

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We believe LTFH8217;s strong parentage,wide distribution network and large balance sheet provide it with a strong platform to push for meaningful market share gains across segments,

Citi said in a note. It also sees Lamp;T Finance amongst the front-runners for a new banking license.

At 10.24 a.m,shares were at 48.55 rupees,down 0.92 percent.

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