Target is upgraded for union bank of India

Established in 1919 and later combined with Andhra Bank and Corporation Bank in 2020, Union Bank of India is a public bank offering various financial services to customers across different sectors. It has a global business mix of ₹20.7 lakh crore and an advance book of ₹9.96 lakh crore. With approximately 76,300 employees, it has a widespread presence in India with 8,479 branches and 9,889 ATMs.
Currently, the stock is trading at 0.9 times the estimated book value for FY26, which appears reasonable considering its consistent growth potential. By assigning a multiple of around 1.1 times the estimated book value for FY26, the target price is set at ₹180 per share with a recommendation to BUY.