Macquarie has reiterated an Outperform rating on ICICI Bank, setting a target price of ₹1,350, which implies a potential upside of approximately 7.2% from the current market price of ₹1,259.60.
Highlights from Macquarie’s Report
- Stress Test and Growth Maintenance: ICICI Bank continues to show resilience by passing stress tests while maintaining growth.
- Focus on Asset Quality: The bank has sustained a strong grip on asset quality, which Macquarie views positively.
- PAT Driven by Treasury Income and Low Credit Costs: ICICI Bank’s Profit After Tax (PAT) was bolstered by treasury income and a reduction in credit costs.
- NIM Trajectory in Focus: Investors and analysts are keeping an eye on the bank’s Net Interest Margins (NIMs) for future performance guidance.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should consult their financial advisors before making investment decisions.
