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Buy SBI Life Insurance; target of Rs 1500: ICICI Direct

ICICI Direct is bullish on SBI Life Insurance recommended buy rating on the stock with a target price of Rs 1500 in its research report dated January 22, 2023.

January 24, 2023 / 07:50 PM IST
 
 
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ICICI Direct's research report on SBI Life Insurance

SBI Life (SBIL) is among the most dominant players in the Indian life insurance industry with strong distribution network, parentage, operating metrics. Balanced product mix with focus on opex ratio ahead of industry • Strong parentage led distribution remains key catalyst.

Outlook

We retain our BUY rating on the stock. Rolling to FY25E, we value SBIL at ~2.5x FY25 EV and maintain our target price at Rs 1500 per share.