SBI: Analysts raise their price targets on SBI

Mumbai: Analyst at brokerages raised their price targets despite lenders’ Q6 earnings falling short of expectations. The share down 2.1% to close at ₹520.10 on Monday.

The average of six analysts’ price targets taken by ET implies a 24% gain SBI stocks in the next 12 months.

While some analysts cut their earnings expectations from

for fiscal year 23 after the disappointing quarter, others keep their ratings bullish due to cheaper price valuation.

Analysts Raise Their Price Targets on SBIOrgan

Morgan Stanley said SBI’s valuation at one point in fiscal 24 was attractive. CLSA increased the share price target to the higher price target of its subsidiaries.

“SBI has outperformed its peers by >30 percentage points over the past 18 months and its current 1.1x 1-year forward book value is moving forward,” CLSA analysts said. closer to the level of fairness”.

HSBC raised its price target on SBI citing stronger loan growth prospects and higher earnings per share.

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