Of the 17 analysts that updated their ratings post the earnings call, nine of them raised their price forecasts while seven of them maintained the status quo. One trimmed the target. Analysts at domestic brokerage firm Spark Capital remain the mos...
By ET Bureau | Updated:
IANSHINDI
Mumbai: Analysts at broking firms raised their stock price targets on HDFC after its second quarter earnings met analysts expectations. Shares of HDFC ended 0.3% down at ₹2,489.3, which is around the three-month high. Brokerages have maintained their positive outlook on the stock with an aggregate target price of ₹2,792.9, translating into a 12.2% upside from the current levels.
Of the 17 analysts that updated their ratings post the earnings call, nine of them raised their price forecasts while seven of them maintained the status quo. One trimmed the target. Analysts at domestic brokerage firm Spark Capital remain the most optimistic with a target price of ₹3,249.
Motilal Oswal maintained its buy rating with a target price of ₹2,900. "With the merger announced, taking a view in isolation is difficult. However, we feel that HDFC continues to have a strong 'right to win' in its standalone mortgage business," it said.
As many as 28 analysts track the stock, shows a Bloomberg survey. About 27 of them have a positive view while one remains neutral.
"HDFC continued to have a healthy pipeline of non-individuals' loans in the last 12 months and the management expects growth to accelerate in the non-individual book in the coming quarter which is a key positive," said Sharekahn in a client note. Analysts at Haitong Securities cut the price forecast by ₹1.6% to ₹2,865 per share. Foreign firms such as Jefferies, Credit Suisse, and JPMorgan have their ratings suspended or restricted till the merger is completed.
