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    HomeNewsBusinessStocksJPMorgan ups HDFC target price to Rs 1,975, sees minimal asset quality risk

    JPMorgan ups HDFC target price to Rs 1,975, sees minimal asset quality risk

    The research house expects steady earnings growth and minimal asset quality risk for Housing Development Finance Corporation.

    September 19, 2017 / 14:19 IST
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      JP Morgan has maintained an overweight rating on housing finance company HDFC and increased its target price for the stock to Rs 1,975, from Rs 1,720 per share earlier.

      The research house expects steady earnings growth and minimal asset quality risk for Housing Development Finance Corporation.

      Its earnings per share are expected to grow at CAGR of 15 percent over the next 3 years, JP Morgan feels.

      It valued HDFC Life at Rs 55,000 crore; implying price/embedded value of 4.4x on FY17 basis.

      The research house views HDFC as a very defensive stock.

      first published: Sep 19, 2017 02:19 pm

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