Jefferies has reaffirmed its Buy rating on ICICI Bank, increasing the target price to ₹1,550 from ₹1,460, indicating a potential upside of approximately 23% from the current market price of ₹1,259.60.
Highlights from Jefferies’ Report
- Deposit Growth Fuels Loan Expansion: Strong growth in deposits is aiding ICICI Bank’s loan growth, reflecting robust demand.
- Better-than-Expected Asset Quality: ICICI Bank’s asset quality has held up well, exceeding expectations.
- Operating Efficiencies Enhance Profitability: The bank’s focus on operational efficiency has positively impacted profitability, contributing to its strong position.
- Top Pick Status: Jefferies continues to list ICICI Bank as one of its top picks in the banking sector.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should consult their financial advisors before making investment decisions.
