Buy HDFC Bank; target of Rs 1700: ICICI Direct
ICICI Direct is bullish on HDFC Bank has recommended buy rating on the stock with a target price of Rs 1700 in its research report dated April 24, 2017.
April 25, 2017 / 05:05 PM IST
ICICI Direct's report on HDFC Bank
HDFC Bank, India’s second largest private bank, has grown its balance sheet at 23% CAGR to Rs 400000 crore in FY07-13 maintaining its profit growth of 30% CAGR to Rs 6726 crore.
We maintain BUY rating. We believe investors would continue to prefer high quality retail private banks owing to their strong visibility & consistency in earnings.
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