Bank stocks to buy: Goldman Sachs remains bullish on 6 private bank stocks. Do you own any?
Goldman Sachs expects Indian banks’ loan growth to moderate to 14–15% through FY29 and initiated coverage on 14 lenders. It favours six private banks, including ICICI Bank, Kotak Mahindra Bank, HDFC Bank, Axis Bank, Federal Bank and AU Small Finance Bank.
Goldman Sachs is bullish on six private Indian bank stocks, with the brokerage initiating coverage on four of them. ICICI Bank, Kotak Mahindra Bank, HDFC Bank, and Axis Bank are all receiving 'Buy' calls from Goldman Sachs, with varying target prices and expected upside potentials. The bank predicts robust loan growth of 14-15% for these companies over the next few years, with some expecting a re-acceleration of loan growth after recent moderation.
Goldman Sachs views these companies as well-positioned for strong earnings recovery due to improvements in cost-to-income ratios and operating leverage. The brokerage sees attractive valuations and upside potential in these stocks, particularly in ICICI Bank and Kotak Mahindra Bank, which they consider underappreciated franchises.
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