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Buy Axis Bank; target of Rs 970: ICICI Direct

ICICI Direct is bullish on Axis Bank has recommended buy rating on the stock with a target price of Rs 970 in its research report dated April 29, 2022.

April 30, 2022 / 12:25 PM IST
 
 
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ICICI Direct's research report on Axis Bank


Axis Bank is the third largest private sector bank in India with a balance sheet size of Rs 11.7 lakh crore as on March 2022. The bank has a large footprint across India with 4758 branches • Retail and SME comprise ~68% of total loans.



Outlook


We retain our BUY rating on the stock. We value Axis Bank at ~2.3x FY24E ABV and maintain our target price at Rs 970.

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first published: Apr 30, 2022 12:25 pm
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