Bank Al-Habib Limited: Upgrade to Buy, with Target Price of Rs55 - By JS Research

<p style="color:#333333;margin-top:15px;margin-bottom:15px;font-family:'Helvetica Neue', Helvetica, Arial, sans-serif;font-size:13px;line-height:20.7999992370605px;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:small;">We upgrade our rating for Bank Al-Habib Limited (BAHL) to &lsquo;Buy&rsquo; from &lsquo;Sell&rsquo; on review of its 1H2015 accounts, where we also incorporate upward revision in our assumptions for (1) interest rates &amp; (2) deposit growth.</span></p><p style="color:#333333;margin-top:15px;margin-bottom:15px;font-family:'Helvetica Neue', Helvetica, Arial, sans-serif;font-size:13px;line-height:20.7999992370605px;"><span style="font-family:Arial, Helvetica, sans-serif;font-size:small;">We raise our BAHL&rsquo;s earnings forecasts by 18-34% over 2015E-17F on (1) further increase in high-yielding assets an...