UBS has maintained a ‘Buy’ rating on ICICI Bank, while increasing its target price to ₹1,575 from the previous ₹1,300. The upward revision is driven by ICICI Bank’s steady performance, which continues to support premium valuations. UBS expects ICICI Bank’s strong metrics and healthy return ratios to keep driving its stock performance.
While growth is anticipated to moderate in the near term, the bank’s relatively better asset quality and high provisions buffer provide further support for its outlook. UBS remains positive on ICICI Bank’s long-term prospects, citing strong fundamentals that justify the higher target price.
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