ICICI Direct has given Buy recommendation for HDFC with a target price of Rs. 3350 in its research report issued on Feb 03, 2021
ICICI Direct’s research report on HDFC
HDFC Ltd is the largest NBFC engaged in the housing finance business. It has demonstrated a consistent performance in terms of both business growth as well as asset quality. Individual loans contribute ~79% of AUM Stake in subsidiaries in insurance and asset management business aid value
We retain our BUY rating on the stock We value HDFC Ltd at ~2.5x FY24E core ABV and Rs 1676 (post15% discount) for subsidiaries and maintain target price of Rs 3350/share.