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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
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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 are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

first published: Dec 20, 2019 11:08 am

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