SBI share price target: Jefferies, Motilal, others see up to 34% upside in state lender. Buy, sell or hold?
State Bank of India has seen a remarkable 15% increase in profits year-on-year, totaling Rs 23,038 crore for the second quarter. With a loan book surpassing Rs 52 lakh crore and a 10% rise in interest income, brokerages have set optimistic Buy ratings on SBI shares, suggesting target prices between Rs 1,225 and Rs 1,350. Despite this positive outlook, management highlighted possible obstacles…
State Bank of India (SBI) shares have gained 2% to Rs 988 on the BSE, following a strong quarter where standalone net profit grew 15% year-on-year to Rs 23,038 crore. The bank's loan book expanded to over Rs 52 lakh crore, while operating profit rose 7% YoY to Rs 34,226 crore. Jefferies maintains a Buy rating for SBI with a target price of Rs 1,320 per share, indicating a potential 34% upside.
The brokerage highlights the bank's strong asset quality and low gross slippages at 0.5% of loans. Motilal Oswal also keeps a Buy rating for SBI, with a revised target price of Rs 1,225, suggesting a 26% upside.
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Also reported by 1 other outlet
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