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ICICI or HDFC: Which Indian Bank Are Analysts Bullish On?

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Dec. 10 2018, Updated 11:25 a.m. ET

Indian banks

In this article, we’ll see how analysts are rating the leading Indian banks. ICICI Bank (IBN) has received “strong buy” ratings from 19 analysts, while 22 have “buy” ratings on its stock. Two analysts have rated the stock as a “hold” or some equivalent, while the remaining analyst polled by Thomson Reuters on December 7 has rated IBN as a “strong sell.”

IBN’s mean consensus price target of 391.8 Indian rupees represents a potential upside of 11.2% over its closing price on December 7.

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HDFC Bank (HDB) has received “strong buy” ratings from 21 analysts, while 19 have rated it as a “buy” or some equivalent. Three analysts have “hold” ratings on HDFC Bank, while the remaining analyst polled by Thomson Reuters on December 7 has rated it as a “sell.” The stock is trading 13.5% below its mean consensus price target of 2,392.93 rupees.

Analysis

As we can see, there isn’t much difference between analysts’ ratings for HDFC Bank and ICICI Bank. Global macroeconomic developments and domestic political factors, including the upcoming state election results, could drive Indian equity markets (EPI) (INDA). While the country has maintained its label as the fastest-growing major economy, it’s dealing with a variety of headwinds, including high fiscal and current account deficits.

In the next and final article, we’ll see how much upside analysts see in Infosys (INFY).

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