Sharekhan is bullish on HDFC Bank has recommended buy rating on the stock with a target price of Rs 1510 in its research report dated September 20, 2019.
Sharekhan's research report on HDFC Bank
Structural drivers are in place for HDFC Bank, which augur well for its long-term growth and profitability. We expect market share gains trajectory to continue, aided by operational efficiencies and best-in-class asset quality, helped by the weakened competitive environment. HDFC Bank is well placed to benefit from the slew of stimulus measures by government and the regulator of late. This will see better growth opportunities along with less pressure on pricing. We have re-worked our estimates and expect EPS benefit in low teens for HDFC Bank in our revised FY2020E/FY2021E profit estimates.
Outlook
We maintain our Buy rating on the stock with a revised PT of Rs. 1,510.
For all recommendations report, click here
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