Analyst Recommendations On State Bank Of India

Analyst Recommendations On State Bank Of India

Analyst Recommendations On State Bank Of India

  • Maintains ‘buy’ rating; raises price target to Rs 560 apiece from Rs 385.
  • Strong NII provision; large buffer built for employee provisioning.
  • Asset quality is delivering better outcomes versus even private banks.
  • Revises earnings estimates higher by 15-26% and expects RoEs of 14% by FY23.
  • Expects material re-rating beyond 1x book.
  • Still remains a deep value opportunity and current re-rating should continue.

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