Nomura has reaffirmed its Buy rating on ICICI Bank, increasing the target price from ₹1,420 to ₹1,575, indicating a potential upside of approximately 25% from the current market price of ₹1,259.60.
Key Points from Nomura’s Report
- Strong Quarterly Performance: Nomura highlighted ICICI Bank’s “flawless quarter” with impressive loan and deposit growth, along with robust asset quality.
- Premium Valuations Expected to Sustain: The brokerage believes that ICICI Bank’s premium valuation will continue, reflecting confidence in its growth potential.
- Sector-Leading Return Expectations: Nomura projects ICICI Bank to deliver a 2.3% Return on Assets (RoA) and 18% Return on Equity (RoE) over FY25-27, positioning it as a top performer in the banking sector.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should consult their financial advisors before making investment decisions.
