Hot Stocks: Global brokerages on HDFC Bank, BoB, SBI and ICICI Bank

Global brokerage firm BofA Securities maintained a buy rating on HDFC Bank and Credit Suisse continued to prefer larger banks such as Bank of Baroda, SBI, IndusInd Bank, and ICICI Bank.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

BofA Securities on HDFC Bank: Buy| Target Rs 1900

BofA Securities maintained a buy rating on HDFC Bank with a target price of Rs 1900. The private sector lender is well-positioned to deliver ahead of market expectations, said the global brokerage.

Earnings delivery to be ahead of market expectations, it added.

The global investment bank is of the view that the risk-to-reward ratio is very attractive at the current valuations.

Credit Suisse on Financials: BoB, SBI, IndusInd Bank and ICICI Bank
Credit Suisse prefers larger banks such as BoB, SBI, IndusInd Bank, and ICICI Bank as they are driving deposit rate hikes.

SBI raised deposit rates by 50-65 bp on 1-3-year deposits. The cost of deposits had increased 10-20 bps in Q2.

PSU banks have lower LDRs, and slower deposit rate hikes. Fll ownership in PSU banks is also relatively low at 8-10%.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)