Sharekhan has recommended hold rating on ICICI Bank with a target price of Rs 295 in its research report dated April 2, 2018.
Sharekhan's research report on ICICI Bank
Recent allegations of lapses in loan disbursement may widen with other regulators and agencies joining the investigation.Although the bank’s board is in support of the management, several unresolved issues are clouding the near term. Despite reasonable Valuations, we believe caution is warranted.
OutlookHowever, considering the recent turn of events and the uncertainty regarding the stock and the outcome of the investigations, we believe caution is warranted. We have revised our rating on the stock to Hold with a revised price target (PT) of Rs. 295.
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