ICICI Bank has target of Rs 1350, says Rajiv Mehta

ICICI Bank has target of Rs 1350, says Rajiv Mehta of IIFL India.

Mehta told CNBC-TV18, "Overall we have a positive stance on banking and more so on the private banks and we continue to like some of the larger banks like ICICI Bank. We have a target price of Rs 1350 on that stock. We also like Axis Bank and we think the stock can go to Rs 1650 in the next nine months."
He further added, "HDFC Bank continues to remain one of our better picks. On the midcap side we like ING Vysya Bank. We have been recommending that particular stock from Rs 370 onwards. It has had a fantastic run in the last three-four months and we still think that the kind of re-rating potential it has there is a lot more room left on the upside for this stock."
"We are not firmly bullish on any of the PSU banks except Indian Bank. SBI I really like at this point in time but may be this quarters numbers can really throw some more light and add to our instincts as far as PSU banking is concerned."