Canara Bank Share Price Target 2026: 'Stock has potential...' - says Choice Broking | Ram Navami pick

Canara Bank Share Price Target 2026: Shares of public sector lender Canara Bank are expected to reach a price target of Rs 158 in the medium to long term, according to Choice Broking. Canara Bank shares have fallen nearly 14% during the US-Iran War. However, in six months, the stock has risen 12.57% in six months and 54% in a year signalling bullish sentiment in the long term. 

In the current session,  Canara Bank's stock ended 2.55% higher at Rs 136.55. Market cap of bank rose to Rs 1.23 lakh crore.

Total 9.18 lakh shares changed hands amounting to a turnover of Rs 12.54 crore.

According to Choice Broking, investors may consider accumulating the stock in the range of Rs 137.30 to 133, where the key 200- day exponential moving average (200-DEMA) is positioned. 

"From a risk management perspective, the Rs 125 level should be treated as a crucial support. On the upside, the stock has the potential to move towards the Rs 151 and Rs 158 levels over the medium to long term," added the brokerage. 

Coming to the Q3 earnings performance, the bank reported a 25.6 per cent year-on-year (Y-o-Y) rise in its net profit to Rs 5,155 crore on a rise in its non-interest income.
 
Non-interest income rose 36.16 per cent Y-o-Y to Rs 7,900 crore in Q3 FY26. Net interest income (NII) — the difference between interest earned and interest expended — went up 1.13 per cent to Rs 9,252 crore. Net interest margin for Q3 slipped to 2.45 per cent as compared to 2.71 per cent in the year-ago period.