City Union Bank had announced a bonus issue in the ratio of 1:10. The exdate for the same is today i.e. July 10, 2018. Accordingly, the number of shares of the bank has increased from 66.5 crore to 73.5 crore. Thus, the share price has adjusted to | 174/share from yesterday's close of | 187/share. Hence, our earlier target price got revised to | 182/share from | 200/share earlier, post this corporate action. However, factoring in the bank's strong earnings trajectory even in this environment, we retain our positive stance on the bank and upgrade the target price to | 200 valuing at 2.6x revised ABV and maintain BUY rating....