Morgan Stanley has maintained its ‘Overweight’ rating on Kotak Mahindra Bank, setting a target price of ₹2,290 per share, implying a 17.7% upside potential from the current market price of ₹1,945.50.
The brokerage sees RBI’s removal of restrictions on new customer onboarding via digital channels and credit card issuances as a major positive, positioning the bank for a potential re-rating.
Morgan Stanley highlights that Kotak Mahindra Bank’s starting profitability is already stronger than its peers, giving it a competitive advantage. Additionally, the expected re-acceleration in unsecured loan growth is likely to aid margin management, further strengthening its earnings trajectory.
With business normalization, an improving credit card portfolio, and strategic expansion in digital banking, Morgan Stanley remains bullish on Kotak Mahindra Bank’s long-term growth outlook.
Disclaimer: The above article is for informational purposes only and does not constitute financial advice. Investors are advised to consult their financial advisors before making any investment decisions.
