ICICI Bank jumps 3% after Goldman Sachs hikes target price

NEW DELHI: Shares of ICICI Bank jumped over 3 per cent in morning trade on Tuesday after the global financial firm Goldman Sachs hiked the target price on the stock, maintaining the 'buy' rating.

Goldman Sachs hiked the target price on the stock to Rs 492 from Rs 451, highlighting it sees a turnaround in the corporate business.

Goldman Sachs expects the private sector lender to deliver a return on assets (RoAs) and return on equities (RoEs) of 1.8 per cent and 17 per cent, respectively over FY20-21.


Shares of the company closed 3.58 per cent up at Rs 406.80 on BSE.