From The Economic Times · Veer Sharma · · 1m 30s
ICICI Bank Q2 Results: Jefferies Targets Rs 1,750
Jefferies maintains Buy rating on ICICI Bank with Rs 1,750 target after Q2 results.
In brief
Jefferies maintains Buy rating on ICICI Bank with Rs 1,750 target after Q2 results. Jefferies and other analysts maintain Buy ratings on ICICI Bank with target prices of Rs 1,750 to Rs 1,850 following Q2 results showing 20.1% net profit growth. Originally reported by The Economic Times.
ICICI Bank Q2 Results
ICICI Bank reported a net profit of Rs 14,843 crore for Q2FY27, a 20.1% increase from Q2FY26.
Net Interest Margin
Net interest margin stood at 4.18% in Q2FY27, down from 4.36% in Q1FY27 and 4.30% in Q2FY26.
NPA Ratio
Gross non-performing asset ratio fell to 1.20% as of September 30, 2026, from 1.38% in previous quarter and 1.58% a year earlier.
Jefferies Rating
Jefferies maintained its 'Buy' rating with a target price of Rs 1,750, implying a 25% upside from current share price.
Loan Growth
Loans grew 30% YoY, driven by 15% retail, 34% SMEs and 31% corporate lending growth.
Nuvama Rating
Nuvama maintained 'Buy' rating with Rs 1,850 target, valuing bank at 2.5 times September 2028 adjusted book value.
Bernstein Rating
Bernstein maintained 'Outperform' rating with Rs 1,800 target price for ICICI Bank.
Financial Projections
Jefferies expects ICICI Bank to deliver 16% CAGR in core profits over FY26-29 with 17% return on equity in FY28.
Market Valuation
Stock trades at 2 times FY28 estimated adjusted price-to-book value and 12 times earnings, per Jefferies.
In short
Jefferies and other analysts maintain Buy ratings on ICICI Bank with target prices of Rs 1,750 to Rs 1,850 following Q2 results showing 20.1% net profit growth.
