Citi Sticks to Their Buy Rating for ICICI Bank Limited (ICICIBANK)
Citi analyst Kunal Shah CFA maintained a Buy rating on ICICI Bank Limited (ICICIBANK – Research Report) yesterday and set a price target of INR1,700.00. The company's shares closed yesterday at INR1,462.20.
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According to TipRanks, Shah CFA is a 3-star analyst with an average return of 7.6% and a 74.07% success rate. Shah CFA covers the Financial sector, focusing on stocks such as Axis Bank Limited, AU Small Finance Bank Limited, and Bank of Baroda.
Currently, the analyst consensus on ICICI Bank Limited is a Strong Buy with an average price target of INR1,579.00, which is a 7.99% upside from current levels. In a report released on June 16, Morgan Stanley also maintained a Buy rating on the stock with a INR1,800.00 price target.
Based on ICICI Bank Limited's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of INR797.47 billion and a net profit of INR135.02 billion. In comparison, last year the company earned a revenue of INR671.82 billion and had a net profit of INR116.72 billion
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