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AXISBANK Consensus Forecast

No. of reports in last year
15
No. of analysts
9
Average Consensus Forecast
735.73
Consensus Potential
38.30%

AXISBANK Price Target Potential

BrokerageTargetPotential
HDFC Securities54121.51%
Nirmal Bang52719.42%
ICICIdirect.com50015.07%
Prabhudas Lilladher47510.60%
Geojit Financial Services47410.41%

AXISBANK Targets in FrontPage Forums

12 Users have submitted 13 trade ideas of Rs. 2,071,861.05 for AXISBANK
85% Bullish
15% Bearish
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AXISBANK Ratings

Long term AXISBANK rating by FrontPage users
4.6/5 (17 Ratings)

15 AXISBANK share price target reports by brokerages below. See what is analyst's view on AXISBANK share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
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AXISBANK Share Price Target

AXISBANK Share Price Target - Broker Reports - 2020

29-Apr-20
Price @ Call: 438.82
Target: 541
BUY
AXSB’s 4Q operating performance was in-line with estimates, however high COVID-19 related provisions resulted in an unexpected loss. The creation of significant provision buffers in uncertain times is desirable. While the systemic fallout of COVID-19 (slower growth and higher stress) will impact AXSB, more than adequate CRAR, significant provision buffers, a fairly granular liability base (benefiting from polarised deposit flows) and the strategic re-orientation underpin our positive stance. Maintain BUY with a TP of Rs 541 (1.5x FY22E ABV+ Rs 22 for subs)
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29-Apr-20
Price @ Call: 438.82
Target: 527
BUY
Axis Bank (ABL) has reported 4QFY20 results with the key pointers being: (1) Retail drives credit growth (2) Deposits profile steady with surplus liquidity (3) Asset quality improves but outlook is cautious (4) Max Life acquisition (See comprehensive conference call takeaways on page 2 for significant incremental colour). Up to the operational level, the bank has reported an overall good performance with operating profit up 16.7% YoY/1.92% QoQ at Rs58.5bn. NII grew by 19.3% YoY on the back of an overall steady NIM of 3.71% (+1bps QoQ) and 15.5% growth in advances, led by 24% growth in retail loans. However, the bottom-line for the quarter as well as full year has been impacted severely due to exceptionally high provisioning and a one-time DTA impact (taken in 2QFY20). Net loss for the quarter was Rs13.9bn. NII/PPOP were 4%/1% above estimates; PAT was estimated at Rs18,332mn compared to reported loss of Rs13,878mn. Total provisioning for the quarter was Rs77.3bn, 132% of operating profit, with the key objective being to provide for in anticipation of covid-related stress and a general overall tightening of the PCR. As a result, PCR now stands at 69%, up 900bps QoQ. The management’s commentary and industry outlook is pessimistic from an asset quality standpoint. However, higher provisions should help improve the balance sheet’s loss-taking ability. Overall slippages were Rs34.2bn, down from Rs62.1bn last quarter. Reported GNPAs have reduced by 14bps QoQ to 4.86% while NNPAs are down to 1.56% compared to 2.09% last quarter. Internally, the management has strengthened the risk thresholds so as to avoid asset quality challenges in a down cycle. Liability side remains comfortable with surplus liquidity. Higher share of well-rated companies in the corporate book and a higher share of salaried class in the unsecured retail book provide comfort. The bank has announced acquisition of 29% stake in Max Life Insurance. We have revised our fee income estimates downward and increased our NPA and provisioning estimates. We retain BUY with a target price of Rs527, based on 1.4x FY22 ABV.
... Read more
29-Apr-20
Price @ Call: 438.82
Target: 500
BUY
Given uncertainty led by Covid-19, the management has refrained from providing any guidance until clarity emerges. Covid-19 and related lockdown would delay a revival in RoE. Slippages, credit cost are expected to remain volatile in near term. However, given healthy asset mix, liability strength, adequate capital and superior customer profile, we believe the bank is poised to face near term challenges and benefit in the phase of normalisation. Hence, we remain positive on the fundamentals. We value the bank at 1.6x FY22E ABV and arrive at a target price of | 500 (post adding | 35 for subsidiaries with 20% holding company discount). Maintain BUY.
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29-Apr-20
Price @ Call: 455.55
Target: 475
BUY
Axis bank posted a loss of Rs13.9bn (PLe: PAT of Rs5.0bn) mainly on back of Rs34.0bn of COVID related provisions on moratorium, stress scenarios & overdue a/c, while also made +Rs40bn of provisions on legacy NPAs to significantly improve PCR to 69%, up 950bps QoQ. Main highlight of the commentary was a disclosure of 25% of loans have been opted for moratorium on installments, which starts to reflect actual risk for banks and was not visible as yet. Lockdown extension & further opting of moratorium may add to risks of NPAs ahead but we will have to watch if industry will have similar trends. With such risks we build-in higher slippages rate & credit cost, similar to last 2-3 years pausing asset quality improvement on exiting a bad corporate cycle. We downgrade to HOLD (from BUY) with revised TP of Rs475 (from Rs609) based on 1.5x (from 1.8x) Mar-22 ABV.
... Read more
9-Apr-20
Price @ Call: 409.42
Target: 474
BUY
Stock prices fell significantly (-40.5% over past 1 month) owing to negative sentiments across the board and currently, valuation appears attractive. We upgrade our rating on the stock to BUY and value the stock based on 1.3x FY22E BVPS (vs. 2.1x prior) with a revised target price of Rs. 474. However, the downside risks to our estimates exists owing to pandemic uncertainties
... Read more
24-Jan-20
Price @ Call: 733.18
Target: 865
BUY
The management’s continuous determination to improve operationally & focus on offering loans with higher risk adjusted return is poised to aid future profitability. Decline in BB and below book bodes well for asset quality. However, credit cost in the near term is expected to remain elevated thereby impacting return ratios. Factoring in higher credit cost, we cut our earnings estimates for FY20-21E. However, we remain positive on fundamentals given strong operational performance and focus on risk adjusted return oriented business. Rolling over to FY22E and valuing core bank at 2.2x FY22E ABV, we maintain our target price at Rs 865 (post adding Rs 35 for subsidiaries post 20% holding company discount). We maintain BUY.
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24-Jan-20
Price @ Call: 733.18
Target: 988
BUY
AXSB’s 3Q operating performance was in-line with estimates. Elevated LLPs continued, and exceeded our estimates, consequently, PAT was ~17% below expectations. While asset quality was largely stable in spite of higher slippages, the BB and below rated loan pool dipped ~18% QoQ. Maintain BUY with a TP of Rs 988(2.75x Dec-21E ABV of Rs 350 + Rs 27 for subs)
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23-Jan-20
Price @ Call: 710
Target: 835
BUY
AXSB reported steady loan growth amidst economic slowdown, led by continued momentum in the retail business. However, the slippage trajectory remains elevated with BB & below pool driving most of the corporate slippages. Overall, we expect NPL formation to moderate gradually (mainly from FY21) as total exposure to BB and below assets has reduced to INR97.8b (1.8% of total loans). We estimate near-term credit cost to stay elevated as AXSB shores up its coverage ratio before reaching normalized levels of 1.2% for FY22. We cut FY21/22 earnings by 4%/5% and estimate AXSB to deliver RoA/RoE of 1.6%/16.6% in FY22. Maintain Buy with a target price of INR835 (2.3x Sep’21E ABV).
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23-Jan-20
Price @ Call: 710
Target: 790
ACCUMULATE
Axis bank’s earnings of Rs17.6bn (PLe:27.0bn) were below expectations on back of continued elevated provisions and muted PPOP despite NII being better. NIMs improved, loan growth held up with contribution from both corporate & retail but slippages continue to be high albeit coming from disclosed stressed watchlist pool. There have been some additions to the watchlist pool but rate of addition is slower and hence overall watchlist has slightly come off to 1.7% of assets. Bank has been focusing on RTDs and improving presence to improve overall branch banking and garner liabilities which is seeing some positive effects. Recovery towards 16-17% ROEs by FY22 looks stretched if credit cost & slippages do not normalize as gains from operating leverage will be gradual. We retain Accumulate, with TP of Rs790 (from 800) based on 2.2x Sep-21 ABV as we adjust credit cost on higher side.
... Read more

AXISBANK Share Price Target - Broker Reports - 2019

24-Oct-19
Price @ Call: 710.93
Target: 860
BUY
Axis Bank currently trades at 2x its FY2021E price to book value (after adjusting value of subsidiaries). We expect the stock to get re-rated owing to (1) new leadership, (2) receding stressed loan pool, and (3) improvement in return ratios (ROA/ROE – 1.5%/15% by FY2021E). We recommend Buy on the stock with a Target Price of Rs 860.
... Read more
23-Oct-19
Price @ Call: 719.19
Target: 730
ACCUMULATE
23-Oct-19
Price @ Call: 719.19
Target: 800
BUY
While we raise our estimates on slippages and credit costs, earnings for FY20E/21E are higher by 4%/10% driven by improving NIM outlook and better operating efficiency. With RoA/RoE at 1.4%/15% for FY21E, we revise our recommendation on the stock to BUY from HOLD with a revised Target Price of Rs800 (from Rs770 earlier), valuing the bank at 2.5x FY21E ABV.
... Read more
23-Oct-19
Price @ Call: 712.7
Target: 865
BUY
The future profitability to be driven by management’s focus to improve operationally & grow risk adjusted return business. Bank’s exposure worth |7000 crore to tainted corporates is seen keeping credit cost higher for FY20E. Factoring in capital raise of Rs 12500 crore & impact of reduction in tax rate, we lower our PAT estimates by 34%/3% for FY20E/21E, respectively. Accordingly, we revise ABV estimate downwards by 10%/8% for FY20E/FY21E, respectively. Given the strong operational performance and focus on risk adjusted return oriented business, we remain positive on the bank and maintain our target price of Rs 865, valuing the core bank at 2.6x FY21E ABV and adding Rs 35 for subsidiaries post 20% holding company discount. We maintain BUY rating.
... Read more
23-Oct-19
Price @ Call: 712.7
Target: 800
ACCUMULATE
Axis bank’s earnings were impacted by large DTA adjustment of Rs21.0bn(we incorporated in full year’s earnings) leading to marginal loss of Rs1.1bn.Although, operationally better NII growth of 16.6% YoY, strong treasury led other income and control in opex translated to strong PPOP growth of 45% YoY (30% on ex-treasury). Asset quality marginally saw improvement partly helped by write-offs but slippages have remained at elevated levels (3.9% annualized) with bulk from the disclosed stress accounts. Bank has seen trickle of improvements in metrics like funding cost, continued retail deposit accretion & cost control but credit cost has been up as corporate stress continues to rise, CASA has been much slower and pricing power is limited leading to a very gradual recovery in return ratios. We retain Accumulate, with TP of Rs800 (unchanged) based on 2.2x Sep-21 ABV.
... Read more
1-Oct-19
Price @ Call: 679.17
Target: 986
BUY
20-Sep-19
Price @ Call: 638.25
Target: 860
BUY
Axis Bank stock has recently corrected by ~10% in past two months which we believe factors in near term concerns. The bank now trades at ~2.1x times FY21E book value which we believe is reasonable.Amidst a weak competitive landscape, Axis bank is well positioned tobenefit from the available opportunities. Its improving fundamentalsmake it a probable candidate for potential re-rating, since its valuationsoffer significant headroom as compared to other peers in private banking space. Its robust franchise, adequate capitalization, and de-risking bookmake it attractive franchise, and the recent price correction make the risk-reward favorable. We maintain our BUY rating with an unchanged Price target of Rs 860.
... Read more
30-Aug-19
Price @ Call: 653.38
Target: 717
HOLD
The bank’s resilient growth trajectory along with the focus on asset quality metrics, strengthening of balance sheet and healthy margins will be the key going forward. Hence, we retain our HOLD rating on the stock with an upward revised target price of Rs. 717 based on 2.1x FY21E BVPS.
... Read more
31-Jul-19
Price @ Call: 677.63
Target: 900
BUY
With the worst long behind AXSB (in terms of asset quality), the near term forewarning is not too disconcerting. As our earnings have consistently, and conservatively lagged consensus, they dip merely 3/4% for FY20/21E to factor in higher provisions. Numerous strategic changes, give us confidence on the bank’s ability to face macro headwinds and thus stay put on its long term trajectory. In line operating performance and higher provisions resulted in a PAT miss. In spite of higher slippage guidance, our already conservative earnings haven’t suffered much. MAINTAIN BUY with a TP of Rs 900 (2.8x Jun-21E ABV of Rs 311+ Rs 27 for subs).
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31-Jul-19
Price @ Call: 677.63
Target: 850
BUY
The long term focus continues to remain on offering loans with higher risk weighted return. The remaining | 7000 crore of exposure to stressed names still standard to keep credit cost higher in FY20E. Accordingly, we cut our PAT & advances growth estimates by ~19% & 2.3%, respectively, for FY20E.However, we remain positive on management’s effort to build a sustainable franchise. We value subsidiaries at | 35 per share, post 20% holding discount. Factoring capital raising and subsequent dilution in return ratios, we cut down our target multiple from 2.9x earlier to 2.4x. Accordingly, we revise our target price to Rs 850 (earlier Rs 880) and maintain our BUY rating.
... Read more
2-Aug-19
Price @ Call: 674.45
Target: 786
BUY
We have revised our NII estimates by -0.9%/-1.6%, PPOP estimates by -1.8%/0.6% and PAT estimates by -2.5%/-0.2%, for FY20/FY21, respectively. We have retained Accumulate rating on ABL, revising our target price to Rs786 (from Rs806 earlier), valuing the stock at 2x FY21E standalone P/BV, and ascribing a value of Rs 36 to the subsidiaries.
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2-Aug-19
Price @ Call: 674.45
Target: 850
BUY
Axis Bank currently trades at 2x its FY2021E price to book value (after adjusting value of subsidiaries). We expect the stock to get re-rated owing to (1) new leadership, (2) limited stressed loan pool, and (3) improvement in return ratios (ROA/ROE – 1.22%/14.2% by FY2021E). We recommend Buy on the stock with a Target Price of 850.
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2-Aug-19
Price @ Call: 674.45
Target: 712
HOLD
Operating performance of the bank remained strong but asset quality continued showing some sign of stress. However, Banks prudent provisioning and disclosures outside the ‘BB & below’ pool led to increase in credit cost. Management has maintained its RoE guidance of 18% over the medium term. Any material improvement in return ratios will be a lay to rollout in stock performance. We cut our FY20 PAT estimates by 11% and expect RoE to be 14% for FY21E, factoring in higher provisioning and increase in credit cost. We have valued the stock at the P/ABV of 2.5x to its FY21E and arrived at a fair value of Rs 712 per share giving an upside of 7%. At CMP of Rs 669 the stock is available at its FY21E P/ABV of 2.3(x). We have a ‘Hold’ rating on the stock.
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31-Jul-19
Price @ Call: 706.55
Target: 825
BUY
AXSB has delivered a modest quarter in a challenging economic environment. We cut our FY20/21 earnings estimates by 7%/6% to factor in the slight increase in our credit cost. Post a strong performance of last couple of quarters, Q1 earnings and outlook reflect the deterioration in the underlying lending environment, which can further risks our estimates. Core operating profitability is getting good, helping to mitigate some credit cost pressures. Improvement in RoA / RoE matrix will be a key to sustain the stock’s performance. Buy with a target price of INR825 (2.5x FY21E ABV).
... Read more
31-Jul-19
Price @ Call: 706.55
Target: 860
BUY
We believe these disclosures are likely to delay the RoE expansion cycle for the bank, as probability of credit costs rises for FY20E. We thus raise our credit cost estimates for FY20E/FY21E, building in higher provision trajectory. While we maintain our BUY rating on the stock, we revise our Price Target to Rs 860.
... Read more
30-Jul-19
Price @ Call: 714.58
Target: 766
ACCUMULATE
Axis bank’s earnings came in lower than estimates at Rs13.7bn (PLe: Rs18.6bn) despite better other income and strong opex gains which were offset by higher contingency provisions and slightly slower NII. Bank gave out new & additional disclosure on stress book outside the BB & Below which were Rs71.0bn (adjusted for already in below BB & NPA) which is another 1.3% of assets taking overall stress close to 3.0%. Although, bank has been making additional provisions (Rs23bn of contingent provisions) over and above and maintaining PCR at 62%. Risks have increased to asset quality and so has credit cost assumptions (interest reversals with that) making it quite tougher for bank to reach the desired targeted ROEs of 15/18% by FY21/FY22. We retain our cautious stance with ACCUMULATE rating though post recent correction valuations have come into desirable zone but still higher than some other peer banks. We revise our TP to Rs766 (from Rs837) based on 2.4x (from 2.6x) Mar-21 ABV.
... Read more
26-Jun-19
Price @ Call: 788.24
Target: 925
BUY
Though the bank has strong management team and a well-articulated strategy in place the execution is going to be critical to deliver long-term sustainable growth and earnings. NPL cycle has shown improvement signs and we estimate earnings to recover though credit cost trajectory can still remain uneven given sluggish macro. We thus estimate RoA/RoE to improve to 1.4%/17.0% by FY21 and maintain our Buy rating with a TP of INR925 (2.7x FY21E ABV + INR42 for subsidiaries).
... Read more
24-Jun-19
Price @ Call: 771.95
Target: 895
BUY
Over FY19, AXSB has demonstrated meaningful improvement in performance metrics. Profitability improved for the retail and wholesale businesses (loss in FY17 & 18). After growing briskly over FY17- 18, SA traction slowed for the bank and system. With moderating slippages and LLPs, AXSB changed course over FY19 towards normalised earnings and RoAAs. Improving asset quality (with rising coverage), better risk practices, focus on high yielding retail products and cost consciousness will drive earnings. Maintain BUY with SOTP value of Rs 895 (2.8x FY21E ABV of Rs 309 + Rs 30 for subs).
... Read more
20-May-19
Price @ Call: 748.15
Target: 880
BUY
6-May-19
Price @ Call: 755
Target: 864
BUY
Axis Bank currently trades at 2.2x its FY2021E price to book value (after adjusting value of subsidiaries). We expect the stock to get re-rated owing to (1) new leadership, (2) limited stressed loan pool, and (3) improvement in return ratios (ROA/ROE – 1.23%/114.7% by FY2020E). We recommend Buy on the stock with a Target Price of Rs 860.
... Read more
26-Apr-19
Price @ Call: 751.97
Target: 900
BUY
The Bank currently trades at attractive valuations of 2.4x FY2021E BV. Considering the renewed focus on business and organizational improvement along with NPA peaking (due to exogenous and internal factors), we find that Axis Bank fundamentals and business model strength have improved. We therefore maintain our BUY rating with a revised PT of Rs 900.
... Read more
26-Apr-19
Price @ Call: 751.97
Target: 882
BUY
At a CMP of 745, the stock is trading at FY21E adjusted P/BV of ~2.5x. The bank use to trade at 2.7x of its last three years forward Adj. P/BV, we have assigned similar multiple (and valued subsidiaries separately) to arrive at a fair value of INR 882 per share, seeking an upside of 18.4% from the current levels. We strongly recommend to buy Axis Bank on account of 1) superior performance 2) reversal of NPA cycle 3) new credible management and 4) expectation of improvement in each and every parameter in the coming years.
... Read more
26-Apr-19
Price @ Call: 751.97
Target: 800
HOLD
Looking ahead, we expect the Bank to deliver sustained improvement in operating metrics led by decline in credit costs, sustained balance sheet growth, and improvement in operating efficiency. Consequently, ROE/RoA is expected to improve to 16%/1.5% for FY21E against 7%/0.6% for FY19E. Our earnings estimate for FY20E has been revised lower, factoring in the additional provisioning requirements against non-banking asset over the next three quarters. With positives largely priced in valuations, we maintain our HOLD recommendation on the stock with a revised Target Price of Rs800 (from 820 earlier), valuing the stock at 2.5x FY21E ABV.
... Read more
26-Apr-19
Price @ Call: 751.97
Target: 840
BUY
We have factored a RoA expansion to 1.4% by FY21E driven by 1) improved credit costs, improved cost efficiency and steady NIMs. We have lowered our NIM trend, but improved credit costs outlook aiding an increase in RoA estimate by 30bps. We increase our multiple on a reduced leverage.
... Read more
26-Apr-19
Price @ Call: 751.97
Target: 875
BUY
AXSB has delivered a steady performance and is taking the right steps toward achieving its medium-term goal of delivering a sustainably high RoE of ~18%. With a capable management team and an improving outlook on credit cost, opex and margins, we expect earnings to accelerate. We maintain our Buy rating on the stock with a target price of INR875 (2.6x Mar’21E ABV for the standalone bank).
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26-Apr-19
Price @ Call: 751.97
Target: 896
BUY
The appointment of a transformational leader at the helm along with a near complete top mgt rejig make AXSB stand out vs. peers. This is supported by change in credit/ risk practices. (1) Improving margins, (2) Reduction in LLPs and (3) Improving operating efficiency will facilitate the achievement of the guided RoEs (~18%) by FY21E. While numerous strategic changes and the qtr’s performance lend credibility to this target, we have conservatively factored in RoAEs of 15.5% over FY19-21E. AXSB remains our preferred bet amongst pvt banks.
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26-Apr-19
Price @ Call: 744.45
Target: 818
ACCUMULATE
We have revised our NII estimates by -2.8%/-3.0%, PPOP estimates by -2.3%/-4.1% and PAT estimates by -2.1%/-3.9%, for FY20/FY21, respectively. We have retained Accumulate rating on ABL, revising our target price to Rs818 (from Rs819 earlier), valuing the stock at 2x FY21E standalone P/BV, and ascribing a value of Rs 36 to the subsidiaries.
... Read more
26-Apr-19
Price @ Call: 744.45
Target: 838
ACCUMULATE
We are of view, under the new CEO efforts are being directed to strike a balance between profit and growth to deliver on its 18% ROE target by FY22E. Performance would improve with stable margin, higher retail fees, containment in operating cost and low credit cost. We expect RoE of11.8% for FY20E &15.9% for FY21E; hence, we reiterate Accumulate with a revised TP of INR 838 (from INR 835) as we value the bank entity at INR 784 at 2.4x (from 2.7x FY20E) FY21E P/ABV and subsidiaries, excluding the parent bank’s equity investments, at INR 54 (unchanged).
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26-Apr-19
Price @ Call: 744.45
Target: 880
BUY
The focus of new CEO is on loans offering higher return on risk-weighted basis and tight control on cost is seen enhancing return ratios. Contingent provision of | 600 crore in Q3 provides comfort. Recovery from NCLT cases could act as positive surprise. We expect credit & deposit CAGR of 18.6% & 15.2% respectively & PAT CAGR of 48% over FY19-21E with RoA and RoE of 1.3% and 14.8%, respectively, by FY21E. We also build in value for its subsidiaries at Rs 35 per share, post 20% holding company discount. We remain positive on the bank and revise our target price upward to Rs 880 (earlier Rs 825) valuing core bank at 2.9x FY21E ABV. We maintain our BUY rating.
... Read more
25-Apr-19
Price @ Call: 748.64
Target: 837
ACCUMULATE
Axis bank’s earnings were marginally below estimates at Rs15.0bn (PLe: Rs15.7bn) mainly as strong other income growth was used to make additional higher provisions on certain balance sheet items. NII growth came in at 20% tad lower than estimates as bank’s focus to push retail term deposits led tostrong funding cost rise but some pass on through yields helped NIMs being largely steady. Bank expects in medium term NIMs to move towards 3.8% but will be flattish in FY20 mainly on challenges from lending mix & liability accretion which remains core factor of our concern to take ROEs towards 18% by FY22. We retain Accumulate rating with revised TP to Rs837 (from Rs845) based on 2.6x Mar-21 ABV post factoring in the reserve adjustment.
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27-Mar-19
Price @ Call: 757.2
Target: 819
ACCUMULATE
We revise our estimates upward for FY20/FY21 but downgrade ABL to Accumulate from Buy rating, revising upward our target price to Rs819 (from Rs762 earlier), valuing the stock at 2.1x FY21E (2.8x FY20E) standalone P/BV and ascribing a value of Rs 33 to the subsidiaries.
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20-Mar-19
Price @ Call: 759.69
Target: 840
ACCUMULATE
With the share of retail increasing to ~70% by FY21 from 62% and likely continued interest in the stock; as it is one of the better bets in the current systemic growth trends with a lower probability of negative surprises; we raise our target multiple, maintain Accumulate.
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22-Mar-19
Price @ Call: 762.31
Target: 850
BUY
The Bank currently trades at attractive valuations of 2.4x FY2021E BV. Considering the renewed focus on business and organizational improvement along with NPA peaking (due to exogenous and internal factors), we find that Axis Bank fundamentals and business model strength have improved. We introduce estimates for FY2021E and roll over the target multiple for the same. We therefore maintain our BUY rating with a revised PT of Rs 850.
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25-Mar-19
Price @ Call: 757.35
Target: 894
BUY
Other excerpts from our interaction include: (1) Potential fund raise after 12 months, (2) Focus on ramping up subsidiaries' operations, (3) Uncertainty on the acquisition of an insurance business (MD's home turf). We remain constructive on the stock despite its recent outperformance (+30% in the past 4 months) on a/c of the aforementioned factors amongst others. Maintain BUY with a revised SOTP TP of Rs 894 (2.8x FY21E ABV of Rs 308 + Rs 32 for subs).
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22-Mar-19
Price @ Call: 755.55
Target: 825
BUY
The new CEO has outlined his strategy focused on acceleration in growth, improving earnings and increasing sustainability. Accordingly, focus on loans offering higher return on risk-weighted basis and tight control on cost is seen enhancing return ratios. Contingent provision of | 600 crore in Q3 provides comfort. Recovery from NCLT cases could act as positive surprise. We expect PAT CAGR of 76% over FY19-21E with RoA and RoE of 1.3% and 15.4%, respectively, by FY21E. We also build value for its subsidiaries at | 35 per share, post 20% holding company discount. We remain positive on the bank and upgrade our target price to Rs 825 (earlier Rs 790) valuing core bank at 2.6x FY21E ABV. We maintain BUY rating.
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20-Mar-19
Price @ Call: 761
Target: 875
BUY
AXSB has delivered a strong performance with multi-quarter high earnings. With a capable management team in place and an improving credit cost/margins outlook, we believe the bank is likely to see earnings accelerate in the coming years. AXSB has already increased PCR to 75%, which should curb incremental provisioning requirement. We, thus, expect RoA/RoE to improve to 1.3%/16.1% by FY21. We revise our target price to INR875 (2.6x FY21E ABV for the bank + INR47 per share for subsidiaries) and reiterate a Buy rating.
... Read more
20-Mar-19
Price @ Call: 761
Target: 845
ACCUMULATE
15-Feb-19
Price @ Call: 688.84
Target: 860
BUY
Axis Bank currently trades at 2.1x its FY2021E price to book value (after adjusting value of subsidiaries). We expect the stock to get re-rated owing to (1) new leadership; (2) limited stressed loan pool; (3) improvement in return ratios (ROA/ROE – 1.1%/12.2% by FY2020E). We recommend Buy on the stock with a Target Price of Rs 860.
... Read more
8-Feb-19
Price @ Call: 729.35
Target: 850
BUY
5-Feb-19
Price @ Call: 726.87
Target: 605
SELL
4-Feb-19
Price @ Call: 716.18
Target: 760
ACCUMULATE
4-Feb-19
Price @ Call: 716.18
Target: 750
HOLD
2-Feb-19
Price @ Call: 720.88
Target: 762
BUY
1-Feb-19
Price @ Call: 720.88
Target: 743
BUY
1-Feb-19
Price @ Call: 720.88
Target: 790
BUY
30-Jan-19
Price @ Call: 660.8
Target: 775
BUY
AXSB has delivered a strong performance with multi-quarter- high earnings. With a capable management team and an improving outlook on credit cost/margins, the bank is likely to deliver earnings acceleration over the coming years, in our view. AXSB has already increased the PCR to 75%, which will curb incremental provisioning requirement. We revise our FY19/20 earnings estimate upwards by 7%/4% and raise our SOTP-based TP to INR775, which corresponds to 2.5x Sep’20E ABV for standalone bank. Maintain Buy.
... Read more
30-Jan-19
Price @ Call: 660.8
Target: 745
ACCUMULATE
Axis bank’s PAT of Rs16.8bn (PLe: Rs12.5bn) was better than expectations on back of better NII (partly on interest write back) and high recoveries in w.off a/c & sale of investments gain which were used for PCR enhancement and contingent provisions on risks pertaining in BB & Below book. Gradually stress on balance sheet is coming off with incrementally lower intensity of downgrades. Management articulated its new strategy till FY22 of reaching 18% ROEs with strong focus on business mix & RAROC, optimizing cost and bringing credit cost near below average levels, this coupled with operations strengthening and improving process/technology. We see gradual improvement in core operations as credit cost normalizes, NIMs improve and given the historically swift movement towards different business profiles should improve risk adjusted return. We retain Accumulate rating with revised TP to Rs745 (from Rs681) based on 2.5x (from 2.3x) Sep-20 ABV.
... Read more
8-Jan-19
Price @ Call: 637.45
Target: 750
BUY

AXISBANK Share Price Target - Broker Reports - 2018

30-Nov-18
Price @ Call: 626.72
Target: 650
HOLD
13-Nov-18
Price @ Call: 613.56
Target: 725
BUY
5-Nov-18
Price @ Call: 609.95
Target: 718
BUY
2-Nov-18
Price @ Call: 611.31
Target: 681
ACCUMULATE
10-Sep-18
Price @ Call: 661.05
Target: 725
BUY
9-Sep-18
Price @ Call: 642.48
Target: 750
BUY
27-Aug-18
Price @ Call: 639.6
Target: 775
BUY
31-Jul-18
Price @ Call: 563.61
Target: 650
BUY
8-Aug-18
Price @ Call: 593.56
Target: 660
HOLD
31-Jul-18
Price @ Call: 568.45
Target: 618
HOLD
31-Jul-18
Price @ Call: 568.45
Target: 625
HOLD
31-Jul-18
Price @ Call: 568.45
Target: 670
BUY
31-Jul-18
Price @ Call: 568.45
Target: 600
ADD
31-Jul-18
Price @ Call: 568.45
Target: 624
ACCUMULATE
12-Jun-18
Price @ Call: 540.1
Target: 600
BUY
26-Apr-18
Price @ Call: 492.49
Target: 590
HOLD
27-Apr-18
Price @ Call: 525
Target: 520
HOLD
27-Apr-18
Price @ Call: 494.55
Target: 585
BUY
27-Apr-18
Price @ Call: 494.55
Target: 600
BUY
23-Jan-18
Price @ Call: 611.05
Target: 710
BUY
23-Jan-18
Price @ Call: 611.05
Target: 651
BUY
4-Jan-18
Price @ Call: 560.35
Target: 650
ADD
1-Jan-18
Price @ Call: 564.86
Target: 660
BUY
1-Jan-18
Price @ Call: 562.4
Target: 640
BUY

AXISBANK Share Price Target - Broker Reports - 2017

13-Dec-17
Price @ Call: 538.3
Target: 654
BUY
13-Nov-17
Price @ Call: 544.5
Target: 680
BUY
23-Oct-17
Price @ Call: 458.4
Target: 490
HOLD
18-Oct-17
Price @ Call: 513.2
Target: 545
HOLD
19-Sep-17
Price @ Call: 523.55
Target: 585
BUY
16-Sep-17
Price @ Call: 516.19
Target: 600
BUY
26-Aug-17
Price @ Call: 506.89
Target: 631
BUY
23-Aug-17
Price @ Call: 499.15
Target: 525
ADD
26-Jul-17
Price @ Call: 532
Target: 552
HOLD
26-Jul-17
Price @ Call: 545
Target: 600
BUY
25-Jul-17
Price @ Call: 545
Target: 638
BUY
26-Jul-17
Price @ Call: 544.65
Target: 495
REDUCE
30-Jun-17
Price @ Call: 511.7
Target: 570
BUY
28-Apr-17
Price @ Call: 506
Target: 540
HOLD
27-Apr-17
Price @ Call: 506
Target: 540
HOLD
26-Apr-17
Price @ Call: 517
Target: 560
BUY
20-Jan-17
Price @ Call: 484
Target: 510
HOLD
23-Jan-17
Price @ Call: 445
Target: 515
BUY
19-Jan-17
Price @ Call: 483.8
Target: 465
SELL
20-Jan-17
Price @ Call: 484
Target: 501
NEUTRAL
20-Jan-17
Price @ Call: 456
Target: 562
ACCUMULATE
19-Jan-17
Price @ Call: 484
Target: 570
BUY

AXISBANK Share Price Target - Broker Reports - 2016

27-Apr-16
Price @ Call: 465.3
Target: 415
SELL
27-Apr-16
Price @ Call: 464
Target: 521
HOLD
27-Apr-16
Price @ Call: 464
Target: 470
BUY
27-Apr-16
Price @ Call: 464
Target: 590
BUY
29-Dec-16
Price @ Call: 443
Target: 500
BUY
1-Nov-16
Price @ Call: 485
Target: 457
REDUCE
26-Oct-16
Price @ Call: 487
Target: 562
ACCUMULATE
25-Oct-16
Price @ Call: 527.28
Target: 570
BUY
13-Oct-16
Price @ Call: 531.4
Target: 630
BUY
6-Oct-16
Price @ Call: 536
Target: 630
BUY
20-Jul-16
Price @ Call: 562.68
Target: 630
HOLD
27-Jun-16
Price @ Call: 514.53
Target: 585
BUY
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  • AXISBANK Share Price Target Today- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3438.27
    Upside Target 2433.18
    Upside Target 1428.92
    Pivot423.83
    Downside Target 1419.57
    Downside Target 2414.48
    Downside Target 3410.22
  • AXISBANK Share Price Target weekly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3483.17
    Upside Target 2463.58
    Upside Target 1439.32
    Pivot419.73
    Downside Target 1395.47
    Downside Target 2375.88
    Downside Target 3351.62
  • AXISBANK Share Price Target monthly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3666.65
    Upside Target 2600.25
    Upside Target 1548.5
    Pivot482.1
    Downside Target 1430.35
    Downside Target 2363.95
    Downside Target 3312.2
  • AXISBANK Share Price Target today- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3433.18
    Upside Target 2429.61
    Upside Target 1427.41
    Pivot423.83
    Downside Target 1420.26
    Downside Target 2418.06
    Downside Target 3414.48
  • AXISBANK Share Price Target weekly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3463.58
    Upside Target 2446.83
    Upside Target 1436.48
    Pivot419.73
    Downside Target 1402.98
    Downside Target 2392.63
    Downside Target 3375.88
  • AXISBANK Share Price Target monthly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3600.25
    Upside Target 2555.12
    Upside Target 1527.23
    Pivot482.1
    Downside Target 1436.97
    Downside Target 2409.08
    Downside Target 3363.95
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
DISCLAIMER: Information is provided "as is" and solely for informational purposes, not for trading purposes or advice, and may be delayed. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and FrontPage will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein.
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