Morgan Stanley has maintained its equal-weight rating on State Bank of India (SBI) with a target price of ₹885 per share, implying a potential upside of about 3.6% from the current market price of ₹854.10.
In its latest financial seminar takeaways, the bank reiterated loan growth guidance of 11–12% in FY26, supported by strong momentum in secured retail and SME segments. Management also reaffirmed its FY26 exit net interest margin (NIM) guidance of around 3%, aided by deposit repricing and the impact of the cash reserve ratio (CRR) cut in the second half of FY26.
Morgan Stanley highlighted that SBI’s asset quality continues to remain robust, with no major concerns flagged by management. The brokerage said the steady growth outlook and stable fundamentals underpin its neutral stance on the stock.
Disclaimer: The views and investment recommendations expressed are those of Morgan Stanley. These do not represent the views of this publication and should not be considered as investment advice. Investors are advised to consult their financial advisors before making any investment decisions.