India's second largest Private Lender ICICI Bank has once again impressed street with strong quarterly Results. In the Q4 bank's net Profit surges by 18% YoY to ₹12,630 Crore and bank's NII rose by 11% YoY and Strong improvement in assets quality too.
Analysts on ICICI Bank
- Macquarie Has maintained outperform rating with Target price ₹1,670/Share. Brokerage Firm says Credits to earning beats to higher yields boosting NIMS and lower credit costs thanks to reversal sale of NPAs but brokerage firm raised concern on low loan growth
- UBS is Equally optimistic, Rating the stock buy with target price of ₹1,680 this brokerage Firm says Q4 beat largely came from other income and low provisions while loan growth was modest and deposit traction Remains strong
- CLSA has raised target price to ₹1,700 while maintaining outperform call. Brokerage Firm Praises icici bank for prioritising profitability over the growth, with PPOP and PAT beating by estimate of 8% and 11% respectively
- Nomura has Also raised target price to ₹1,690 and continues to rate ICICI Bank as Buy. Brokerage Firm called robust quarter with steady Margins and healthy asset quality. Although brokerage Firm described loan growth 'as a tad soft'
- Nuvama has also Bullish call on ICICI Bank with target price of ₹1,630. Brokerage Firm hailed ICICI Bank's Q4 as another strong performance with solid 15bps QoQ rise in NIMS
- Jefferies has highest target among peers raising to ₹1,710 while maintaining buy Rating. Brokerage Firm was particularly upbeat about 13% CASA Growth calling it key positive trend
ICICI bank's Q4 results puts smile on both Investors and analyst's face despite slightly Lower loan growth strong NIM expansion an improving deposits base , controlled slippages and Sustained Asset Quality suggest the bank well positioned
Despite Stock is all All time high many Brokerages raised target price of ICICI Bank it shows confidence of analysts on Bank and it's management
Disclaimer:
This article is for informational purposes only and is not investment advice. Stock market investments are subject to risks. Please consult a financial advisor before making any investment decisions.
