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HDFC Share Price Target

Housing Development Finance Corporation Ltd.
Sector: Finance
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HDFC Share Price *
2,309 +44.35 (1.96%)
* (quote may be delayed)
HDFC Share Price Forecast - Consensus
No. of reports in last year
15
No. of analysts
7
Average Consensus Forecast
2347.53
Consensus Potential
3.20%

HDFC Share Price Target - Broker Reports - 2019

Prabhudas Lilladher
5-Nov-19
Price @ Call: 2181.35
Target: 2361
ACCUMULATE
On subsidiaries front, life and general insurance revenues grew 8%/25%YoY respectively. Asset management business stood tepid as the revenues grew mere 5% YoY. While we moderately tweak our provision estimates higher, affordable housing focus and optimistically cautious lending traction prompt us to value core mortgage business at 2.1x PABV Sep’21e. With acquisition in general insurance at play and consistent value add from subsidiaries, the latter now contributes 59% to our SOTP price of Rs2,361 (earlier Rs 2,365). Reiterate ACCUMULATE.
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Geojit Financial Services
4-Sep-19
Price @ Call: 2096.68
Target: 2284
HOLD
GNPA increased 11bps YoY in Q1FY20 to 1.3% (vs. 1.2% in Q4FY19). Net profit stood at Rs 3,203cr in Q1FY20, a growth of 46.3% YoY, driven by proceeds from the sale of GRUH Finance. We maintain our HOLD rating on the stock, with a revised target price of Rs 2,284, based on SOTP valuation.
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Sharekhan
27-Aug-19
Price @ Call: 2148.25
Target: 2500
BUY
Best of the lot, outlook improves as supportive measures providea boost:
HDFC is currently available at ~4x its FY2021E BV, which we believe is reasonable considering its strong operating metrics, consistency and sustainable business model. Despite the NBFC industry facing challenges, we expect the consistency and relative outperformance of HDFC will help it to sustain premium valuations. Going forward, improving appetite for HDFC’s sell-down/funding paper will result in pricing advantage. For the past year, while strong NBFCs were able to raise funds (from banks), it was at a higher cost and HDFC alsosaw a 5 BPS impact on its spreads in Q1. In our view, AUM growth should remainhealthy (on market share gains) with upside potential for spreads. We believe the outlook for HDFC has improved with supportive government measures, which will provide growth momentum with potential of margin expansion. We maintain our Buy rating on the stock with an unchanged PT of Rs. 2,500.
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Prabhudas Lilladher
3-Aug-19
Price @ Call: 2103.15
Target: 2270
BUY
While HDFC maintains competitive superiority the spreads should stand maintained, however, GNPA and loan traction (15%) should see slight downward pressures for FY20. Against this backdrop, we trim our core book multiple to 2.6x (earlier 2.7x) arriving at TP of Rs2,270 (earlier Rs 2,274) at Mar-21 PABV. Downgrade to ACCUMULATE.
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Sharekhan
2-Aug-19
Price @ Call: 2103.15
Target: 2500
BUY
HDFC is currently available at ~4x its FY2021E BV, which we believe is reasonable considering strong operating metrics, consistency and sustainable business model. While the NBFC industry faces its own challenges, the consistency and relative outperformance of HDFC will help it to sustain premium valuations. We maintain our loan growth estimates over FY2019-FY2021, intact at a ~16% CAGR, considering easein competition, HDFC’s diversified liability franchise and higher coverage.In our view, AUM growth should remain healthy (on market share gains)with spreads maintained (diversified liability franchise but cautious stanceof management on riskier assets) and well-contained credit costs. We maintain our Buy rating on the stock with an unchanged PT of Rs. 2,500.
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AnandRathi
8-Jul-19
Price @ Call: 2267.97
Target: 2539
BUY

AnandRathi
26-Jun-19
Price @ Call: 2165.86
Target: 2539
BUY

Sharekhan
14-Jun-19
Price @ Call: 2190.98
Target: 2500
BUY
HDFC is trading at 4.1x of its FY2021E book value, which we believe is reasonable considering strong operating metrics, consistencyand sustainable business model. While the NBFCindustry faces its own challenges, the consistency and relative outperformance of HDFC will help itto sustain premium valuations. We maintain ourBuy rating on the stock with a revised price target(PT) of Rs 2,500.
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Sharekhan
14-May-19
Price @ Call: 1951.01
Target: 2300
BUY
HDFC is available at 3.7x its FY2021E book value, which we believe is reasonable considering its strong operating metrics, consistency and sustainable business model. Thus, we maintain our Buy rating on the stock with an unchanged price target (PT) of Rs. 2,300.
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Motilal Oswal
14-May-19
Price @ Call: 1951.01
Target: 2330
BUY
HDFC has maintained a cautious stance on the wholesale segment over the last five years (~13% CAGR), when the sector was growing at a rapid pace. The share of wholesale in overall AUM has declined 350bp+ to 29% over FY14-19. In the current stress liquidity period for NBFCs, the preference of debt markets/banks would be toward well-established and strong parentage companies, and HDFC is well placed to capitalize on this. The company is sitting with strong capitalization (Tier I 17.6%) – networth has doubled (to INR737b+) over FY17-19, helped by a capital raise of INR120b+, warrant conversion of INR55b+ and strong internal accruals. We largely maintain our estimates. Maintain Buy with an SOTP-based TP of INR 2,330.
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Prabhudas Lilladher
13-May-19
Price @ Call: 1961.45
Target: 2274
BUY
Sequential asset quality improved as GNPA declined 4bps QoQ, absolute GNPA still grew higher 18% YoY. While our loan growth (16-18%) and NIM (3.3-3.4%) estimates spell conservatism on account of market apprehensions (competition from PSBs, falling corporate loans traction on concerns), the same stand rightly offset with improving credit costs (~30bps) and GNPA estimates at 1.25-1.3% over FY20-21. Capital sufficiency (19%+), extra provisioning and superior asset quality prompt us to reiterate BUY. Our TP at Rs2,274 based on SOTP metrics values HDFC at 2.7x at Mar-21 PABV incorporating slight moderation in earnings of subsidiaries on account of anticipated subdued capital markets.
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ICICIdirect.com
31-Jan-19
Price @ Call: 1885.5
Target: 2050
BUY

Prabhudas Lilladher
30-Jan-19
Price @ Call: 1918.8
Target: 2266
BUY

Motilal Oswal
30-Jan-19
Price @ Call: 1918.8
Target: 2300
BUY

Edelweiss
22-Jan-19
Price @ Call: 1980.41
Target: 2200
BUY

HDFC Share Price Target - Broker Reports - 2018

Geojit Financial Services
30-Nov-18
Price @ Call: 1976.5
Target: 2112
HOLD

Prabhudas Lilladher
2-Nov-18
Price @ Call: 1761.7
Target: 2265
BUY

Edelweiss
17-Sep-18
Price @ Call: 1883.33
Target: 2115
BUY

Motilal Oswal
31-Jul-18
Price @ Call: 2028.05
Target: 2335
BUY

Sharekhan
31-Jul-18
Price @ Call: 2028.05
Target: 2454
BUY

Edelweiss
31-Jul-18
Price @ Call: 2028.05
Target: 2160
HOLD

Prabhudas Lilladher
31-Jul-18
Price @ Call: 2028.05
Target: 2287
BUY

Indiabulls Ventures
27-Jun-18
Price @ Call: 1916.93
Target: 2190
BUY

ICICIdirect.com
2-May-18
Price @ Call: 1894.34
Target: 2250
BUY

Edelweiss
2-May-18
Price @ Call: 1884.65
Target: 2160
HOLD

Sharekhan
30-Apr-18
Price @ Call: 1882.48
Target: 2200
BUY

Prabhudas Lilladher
30-Apr-18
Price @ Call: 1882.48
Target: 2228
BUY

Motilal Oswal
30-Apr-18
Price @ Call: 1882.48
Target: 2225
BUY

Reliance Securities
17-Apr-18
Price @ Call: 1870.7
Target: 2294
BUY

Motilal Oswal
3-Apr-18
Price @ Call: 1828.78
Target: 2225
BUY

Prabhudas Lilladher
30-Jan-18
Price @ Call: 1953.87
Target: 2160
BUY

Motilal Oswal
29-Jan-18
Price @ Call: 1948.45
Target: 2260
BUY

Edelweiss
29-Jan-18
Price @ Call: 1948.45
Target: 2130
HOLD

Reliance Securities
8-Jan-18
Price @ Call: 1725.95
Target: 1995
BUY

HDFC Share Price Target - Broker Reports - 2017

Reliance Securities
21-Nov-17
Price @ Call: 1691.9
Target: 1995
BUY

JM Financial
13-Nov-17
Price @ Call: 1678.92
Target: 1800
BUY

Sharekhan
9-Nov-17
Price @ Call: 1746.85
Target: 1900
BUY

Reliance Securities
7-Nov-17
Price @ Call: 1784.3
Target: 1995
BUY

Axis Direct
6-Nov-17
Price @ Call: 1775.35
Target: 1980
BUY

Motilal Oswal
31-Oct-17
Price @ Call: 1706.35
Target: 2000
BUY

Edelweiss
31-Oct-17
Price @ Call: 1705.5
Target: 1777
HOLD

ICICIdirect.com
10-Oct-17
Price @ Call: 1752
Target: 2056
BUY

Reliance Securities
28-Jul-17
Price @ Call: 1785
Target: 1995
BUY

Reliance Securities
14-Jul-17
Price @ Call: 1654.5
Target: 1786
BUY

Geojit Financial Services
25-May-17
Price @ Call: 1525
Target: 1710
BUY

Axis Direct
9-May-17
Price @ Call: 1529
Target: 1850
BUY

Motilal Oswal
5-May-17
Price @ Call: 1564.4
Target: 1797
BUY

ICICIdirect.com
5-May-17
Price @ Call: 1546.36
Target: 1750
BUY

Prabhudas Lilladher
5-May-17
Price @ Call: 1546.36
Target: 1690
ACCUMULATE

Edelweiss
28-Apr-17
Price @ Call: 1564
Target: 1593
HOLD

Axis Direct
3-Feb-17
Price @ Call: 1395.78
Target: 1540
BUY

ICICIdirect.com
31-Jan-17
Price @ Call: 1365
Target: 1570
BUY

Edelweiss
30-Jan-17
Price @ Call: 1372
Target: 1564
HOLD

Geojit Financial Services
6-Jan-17
Price @ Call: 1217
Target: 1400
BUY

HDFC Share Price Target - Broker Reports - 2016

Edelweiss
26-Oct-16
Price @ Call: 1335
Target: 1450
HOLD

Enochventures.com
18-Aug-16
Price @ Call: 1374.45
Target: 1500
BUY

Reliance Securities
29-Jul-16
Price @ Call: 1380
Target: 1560
BUY

  • HDFC - Share Price Target Potential

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    BrokerageTargetPotential
    Prabhudas Lilladher2,3614.08%
    Geojit Financial Services2,2840.85%
    Sharekhan2,5009.41%
    AnandRathi2,53910.81%
    Motilal Oswal2,3302.80%