ICICI Direct's research report on State Bank of India
SBI is a public sector bank and also the largest bank in India with a balance sheet size of over ~ Rs 52 lakh crore. Strength in retail portfolios, best operating metrics in the PSU banking space • Large subsidiaries, strong outlook adding value to the bank.
Outlook
Hence, we retain our BUY rating on the stock. We value the bank at ~1.3x FY24E ABV and subsidiaries at ~Rs 192/share to arrive at a revised target price of Rs 700 from Rs 650 earlier.
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