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Buy HDFC Bank; target of Rs 1500: Motilal Oswal

Motilal Oswal is bullish on HDFC Bank recommended buy rating on the stock with a target price of Rs 1500 in its research report dated October 27, 2020.

November 02, 2020 / 12:52 PM IST
 
 
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Motilal Oswal's research report on HDFC Bank


HDFC Bank (HDFCB) has built an exceptional banking franchise, powered by flawless execution. It consistently challenges the status quo - as reflected in its product and digital innovation - and yet persistently adheres to the basics of banking with regard to underwriting standards. The bank has reported remarkable improvement in collection efficiency, to 97% of pre-COVID levels, and is well-placed to gain incremental market share on both the asset and liability fronts.

Outlook


We estimate HDFCB to deliver a ~19% PAT CAGR over FY20-FY23E, with ROA/ROE at 2.0%/17.8% for FY23E. Maintain Buy, with revised TP of INR1,500 (3.3x Sep'22E ABV).


For all recommendations report, click here


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Broker Research
first published: Nov 2, 2020 12:52 pm

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