Brokerage firm Emkay Global Financial Services has upped its target price on YES Bank shares but maintains its 'sell' rating on the stock after the quarterly earnings by the private lender on Saturday, October 18. Emkay believes that it is a long wait for a turnaround. The broking firm will remain watchful of the potential new management and its medium-to-long term strategy. Advertisement

YES Bank's core profitability improved, aided by stable margin and contained opex; however, PAT missed estimate by 16.4 per cent, standing at Rs 654 crore with RoA at a low of 0.6 per cent, mainly due to lower treasury gains and elevated provisions at 68 bps of loans, said Emkay in its note.

YES Bank reported an 18.3 per cent year-on-year (YoY) rise in its net profit at Rs 654 crore, while net interest

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