PNB shares surge 4 percent after Q4 profit jump while brokerages slash targets

Why were targets cut despite profit beating expectations

Punjab National Bank shares jumped about 4% after its Q4 FY26 net profit rose 14% and the bank declared a Rs 3 per equity dividend. Brokerages largely kept “Buy” calls, but several adjusted—often reduced—target prices, signaling caution over what the next earnings run could look like despite the strong quarter.