ICICI Bank shares zoom 13% after a robust

 NEW DELHI: 
ICICI Bank



 



NSE -1.46 %'s stellar September quarter results sent its shares soaring 13 per cent intraday on Monday, making investors wonder whether more juice is left in the counter. At the prevailing levels, price targets suggest up to 28 per cent potential upside in the stock.

CLSA called the private lender best in class, as it increased target on the stock to Rs 1,100 from Rs 1,000. Net slippages were negligible with high  


The stock rose 12.95 per cent to hit a 52-week high of Rs 859.15 on BSE.

"We see ICICI hitting the 2 per cent RoA mark by FY24 which should drive a substantial valuation rerating from current core banking business valuation of 1.9 FY24 BVPS. We raise our target multiple to 2.75 times FY24E BVPS for the core banking business and maintain a BUY rating with a revised target price of Rs 1,010," JM Financial said.

Emkay Global said the bank's asset quality was better than expected,  ..


Post a Comment

0 Comments