Macquarie has maintained its ‘Buy’ rating on HDFC Bank, setting a target price of ₹2,300, which implies a 37.5% upside from the current market price of ₹1,671.90.
The brokerage highlighted the bank’s solid results despite a challenging macroeconomic environment. It noted a marginal rise in slippages due to the high agricultural loan book but emphasized the bank’s ability to handle such challenges effectively.
Macquarie also pointed out the potential for return on assets (RoA) improvement over the next two years, driven by net interest margin (NIM) expansion. Additionally, improvements in the margin trend remain a key aspect to watch going forward.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
