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Buy State Bank of India; target of Rs 605: ICICI Direct

ICICI Direct is bullish on State Bank of India has recommended buy rating on the stock with a target price of Rs 605 in its research report dated May 14, 2022.

May 14, 2022 / 01:53 PM IST
 
 
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ICICI Direct's research report on State Bank of India


SBI is a public sector bank and also the largest bank in India with a balance sheet size of over ~ RS 54 lakh crore. Strength in retail portfolios and best operating metrics in the PSU banking space • Large subsidiaries, strong outlook adding value to the banks.



Outlook


We retain our BUY rating on the stock. We value the bank at ~1.1x FY24E ABV (from 1.2x) and subsidiaries at ~RS 186 per share to arrive at a revised target price of RS 605 from RS650 earlier.

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For all recommendations report, click here


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first published: May 14, 2022 01:53 pm
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