YES Bank shares hit record high of Rs 882 on JPMorgan upgrade

YES Bank shares touched an all-time high of Rs 882 on Tuesday after JPMorgan upgraded the stock to 'overweight' from 'underweight'.

The scrip touched its highest level since its debut on the domestic bourses in 2005.

JPMorgan also raised its price target for YES Bank to Rs 950 from Rs 650.

The financial services major said te macro environment was turning incrementally positive. "The stock does remain vulnerable to a macro shock but that appears an unlikely outcome and we expect the momentum on the stock to continue," JPMorgan said.

It added that easy liquidity and falling rates help the bank's low CASA funding base.

(Reuters)