Analysts at most brokerages retained their share price targets on State Bank of India, after the lender’s second quarter results beat market estimates. The stock, however, slid 0.7% to ₹573.95 in a firm market on Monday.
The average price target on State Bank of India of all analysts compiled by Bloomberg following the second quarter results is at ₹715.11, implying an upside of 24.5% over Monday’s closing.
Jefferies said SBI is one of the best PSU bank franchises, with a strong current account savings account (CASA) franchise and digital-banking platform.
Shares of peers, Canara Bank, Bank of Baroda and Punjab National Bank were down 0.79%,4.02% and 0.17% respectively.
