Yes Bank shares hit record high after JPMorgan upgrades rating to ‘overweight’

The shares of private sector bank Yes Bank touched an all-time high at Rs 882, highest since the stock made its debut in 2005 after. JPMorgan has upgraded the bank to “overweight” from “underweight”, raising price target to Rs 950 from Rs 650

Macro environment turning incrementally positive, said JPMorgan.

“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,” the investment bank said.