Morgan Stanley has reaffirmed its ‘Overweight’ rating on HDFC Bank, setting a target price of ₹1,965, which indicates a potential upside of 17.6% from the current market price of ₹1,671.90.
The brokerage highlighted strong Q3FY25 numbers, with net interest margins aligning with expectations. However, headline GNPA witnessed an uptick due to seasonal factors, which the brokerage considers a temporary effect.
Morgan Stanley continues to back HDFC Bank’s fundamentals, viewing it as a strong play in the banking sector with resilient operational performance.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
