Buy ICICI Bank target of Rs 630: Sharekhan
Sharekhan is bullish on ICICI Bank has recommended buy rating on the stock with a target price of Rs 630 in its research report dated December 19, 2019.
December 20, 2019 / 11:08 AM IST
Sharekhan's research report on ICICI Bank
ICICI Bank continues to be our preferred pick and is among the best plays on the improving trend in asset-quality issues. Revival of earnings growth and improvement in advances book and return ratios (ROEs to improve to 15% in FY2022E from ~3% in FY2019A) are key re-rating triggers for the stock. We introduce FY2022E earnings estimates and are accordingly rolling over our PT on FY2022E book value estimates.
We retain our Buy rating on the stock with a revised PT of Rs. 630.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.