ICICI Direct has given Buy recommendation for Axis Bank with a target price of Rs. 970 in its research report issued on Oct 27, 2021
ICICI Direct’s research report on Axis Bank
Axis Bank is the third largest private sector bank in India with a balance sheet size of Rs 10.5 lakh crore as on September 2021. The bank has a large footprint across India with 4679 branches Retail and SME comprise ~66% of total loans
We retain our BUY rating on the stock We value Axis Bank at ~2.4x FY23E ABV and revise target price at Rs 970 from Rs 900 earlier.