Shares of ICICI Bank Ltd have declined 2.3% over the past month, currently trading at ₹1,368.90, even as global brokerage houses remain positive on the private lender’s long-term outlook.
Bank of America (BofA) has maintained its ‘Buy’ rating on ICICI Bank while raising the target price to ₹1,850 from ₹1,750 earlier, implying a potential upside of around 35% from current levels. The brokerage highlighted the bank’s robust retail loan growth, strong asset quality, and industry-leading return ratios, reaffirming its view that ICICI remains one of the most fundamentally strong banks in the Indian financial sector.
BofA also noted that ICICI’s focus on digital transformation and diversified lending portfolio continues to support its stable profitability. The bank’s operational efficiency and prudent risk management are seen as key differentiators, even as the overall banking sector faces margin pressures.
Meanwhile, Macquarie retained a long position on ICICI Bank, along with HDFC Bank, PFC, REC, and Aditya Birla Capital, while maintaining short positions on IndusInd Bank, M&M Finance, and SBI Cards — indicating selective optimism across the sector.
Despite short-term correction in ICICI’s stock, analysts believe that any weakness offers a buying opportunity for long-term investors, given its consistent performance, improving balance sheet, and focus on retail and SME segments.
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