# ICICI Bank Q2 Results: Jefferies Targets Rs 1,750

> Jefferies maintains Buy rating on ICICI Bank with Rs 1,750 target after Q2 results.
- Title: ICICI Bank Q2 Results: Jefferies Targets Rs 1,750 | Shortify
- Summary: 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…
- Keywords: icici bank, jefferies, q2 results, share price target, net profit, banking, financial results, money, business, ICICI, Bank, Results
- Source: The Economic Times — https://economictimes.indiatimes.com/markets/stocks/news/icici-bank-share-price-target-after-q2-results-what-are-jefferies-other-analysts-saying/articleshow/135039483.cms
- Author: Veer Sharma
- Published: 2026-10-19T04:18:00+00:00
- Read time: 1 min
- Topics: icici bank, jefferies, q2 results, share price target, net profit, banking, financial results, money, business
## 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.
## Key takeaway

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.