J.P. Morgan has maintained a Neutral rating on IDFC First Bank with a target price of ₹65, implying a downside of around 8% from the current market price of ₹70.63.
The bank reported Q1FY26 profit after tax of ₹4.6 billion, delivering 16% upside to J.P. Morgan’s estimate. The beat was primarily driven by higher trading income, while core operating metrics were seen as relatively weak.
A key positive, according to the brokerage, was the moderation in operating expense growth to 11% year-on-year, which came in below the bank’s full-year guidance of 12–13%.
Disclaimer: This article is based on J.P. Morgan’s brokerage report and does not constitute investment advice. Please consult a certified financial advisor before making any investment decisions.
