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HDFCBANK Share Price Target
HDFC Bank Ltd.
Sector: Banks
Sector: Banks
HDFCBANK Share Price *
2,166.8 -7.3 (-0.34%)
* (quote may be delayed)
HDFCBANK Share Price Forecast - Consensus
| No. of reports in last year | 42 |
| No. of analysts | 18 |
| Average Consensus Forecast | 2544.26 |
| Consensus Potential | 14.07% |
HDFCBANK Share Price Target - Broker Reports - 2019
Prabhudas Lilladher
12-Aug-19
Price @ Call: 2274.46
Target: 2732
BUY
Best placed despite challenging environment
Analysis of HDFCB’s 20F filings show (i) Quality retail franchise built-up in both liabilities and assets (ii) Early stress levels & delinquencies have risen in retail with increased credit costs & write-offs and (iii) bank remarkably maintains its track record of low concentration to single group Top 10 accounts. We slightly increase our credit cost estimates and lower other income for FY20/FY21. We reduce our target multiple to 3.7x from 3.95x given the uncertain environment and roll forward of our target to Sep-21 ABV. Retain BUY with revised TP of Rs2,732 (from Rs2700).
Analysis of HDFCB’s 20F filings show (i) Quality retail franchise built-up in both liabilities and assets (ii) Early stress levels & delinquencies have risen in retail with increased credit costs & write-offs and (iii) bank remarkably maintains its track record of low concentration to single group Top 10 accounts. We slightly increase our credit cost estimates and lower other income for FY20/FY21. We reduce our target multiple to 3.7x from 3.95x given the uncertain environment and roll forward of our target to Sep-21 ABV. Retain BUY with revised TP of Rs2,732 (from Rs2700).
Reliance Securities
26-Jul-19
Price @ Call: 2285.8
Target: 2650
BUY
Outlook & Valuation: We believe the bank is well positioned to deliver healthy growth even in the current weak environment. Its strong capital position, improving operating efficiency and impeccable asset quality performance across cycles should continue to aid return ratios with RoA/RoE pegged at 1.9%/16% for FY21E. At CMP, the stock trades at multiple of 3.4x FY21E. Marginally tweaking our earnings estimates for FY20E/FY21E, we maintain our BUY recommendation on the stock with an SOTP-based Target Price of Rs2,650 (based on 3.7x FY21E adjusted PBV and the value of its subsidiaries, implying a FY21 P/ABV of 3.8x).
Angel Broking
25-Jul-19
Price @ Call: 2279.8
Target: 2620
BUY
Outlook & Valuation: Credit growth beat the industry growth rate driven by strong retail business. The strong liability franchise and healthy capitalisation provides earnings visibility. We value HDFC Bank using SOTP method, valuing standalone banking business at 3.5x of FY21 ABV and its two subsidiaries at 147/share. We recommend a Buy on the stock, with a target price of 2,620/ share.
ICICIdirect.com
23-Jul-19
Price @ Call: 2297.05
Target: 2400
HOLD
The current performance shows a mild moderation in business growth and asset quality. Going ahead, a cautious rise in forward provision provides marginal discomfort. The expected leadership change may remain an overhang on the stock keeping valuation subdued. We marginally cut our estimates to ~19% CAGR in NII, ~20% in PAT in FY19-21E. Accordingly, we downgrade our rating from BUY to HOLD with a target price of Rs 2400 (earlier Rs 2700) valuing bank at ~20x FY21E EPS (~3.2x FY21E ABV) and include Rs 150 per share for HDB Financial Services.
Sharekhan
23-Jul-19
Price @ Call: 2260.71
Target: 2750
BUY
HDFC Bank currently trades at 3.3x its FY2021E BVPS, which we believe is attractive for a bank with its strengths and consistency. While a cautious stance with rise in forward provision resulted in marginal impact for Q1, we believe management’s decision to be pragmatic is positive considering present times. HDFC Bank’s prudential provisioning will help facilitate a steady earnings growth trajectory, which will be positive. We maintain our Buy rating on the stock with an unchanged PT of Rs. 2,750.
Motilal Oswal
23-Jul-19
Price @ Call: 2260.71
Target: 2750
BUY
HDFCB'soperatingperformanceremainsstrong,although business growth has shown moderation, reflecting weakness in the consumption-linked lending segments and cautious stance on unsecured loans. We lower our growth estimates marginally - expect the bank to deliver 19%/20% loan book/PAT CAGR over FY19-21, led by stable margins and a continued improvement in operating leverage. Maintain Buy with a target price of INR2,750 (3.8x FY21E ABV for the bank).
KRChoksey
23-Jul-19
Price @ Call: 2260.71
Target: 2683
BUY
HDFC Bank shares are currently trading at a P/B multiple of 3.8x/3.4x on adj: FY20E/FY21E book value and we expect the premium valuation of the bank to continue on back of its high ROE, industry leading asset quality metrics and expanding retail franchisee which supports high margin lending opportunities along with benefits of low funding costs. We apply a P/B multiple of ~4.52x to the FY20 adj. BVPS of INR 593 to arrive at a target price of INR 2,683 per share, an upside of 16.8% over the CMP. Accordingly, we reiterate our “Buy” rating.
Prabhudas Lilladher
22-Jul-19
Price @ Call: 2375.95
Target: 2700
BUY
Business growth was slower both from retail & wholesale with some segments slowed cautiously, while some on back of slowing economy. Bank continues to deliver on most of its core operating metrics with well managed portfolio mix. With 20% CAGR earnings, 20% constant dividend payout (250% of FV special dividend announced as well) and 17% ROEs remains torch bearer for the industry and hence HDFCB remains our most preferred pick in banking universe. Retain BUY with TP of Rs2,700 (unchanged) based on 3.9x Mar-21 ABV.
Nirmal Bang
22-Jul-19
Price @ Call: 2375.95
Target: 2576
ACCUMULATE
We have revised our NII estimates by -1.1%/-1.6%, revised our PPOP estimates by -1.3%/-1.9% and PAT estimates by -1.5%/-1.9% for FY20/FY21, respectively. We have retained Accumulate rating on HBL and revised our target price to Rs2,576 (from Rs2,719 earlier), valuing the stock at 3.0 FY21E P/BV.
Edelweiss
22-Jul-19
Price @ Call: 2375.95
Target: 2785
BUY
Despite softening growth we expect the bank to clock >23% earnings CAGR over FY19–21E and sustain superior return ratios (RoA of 2%) led by: i) best-in-class liability franchise; ii) productivity improvement from digital focus; and iii) marginal stress baggage. We maintain ‘BUY/SO’.Maintain ‘BUY’ with INR2,785 TP.
AnandRathi
8-Jul-19
Price @ Call: 2428.67
Target: 2820
BUY
AnandRathi
26-Jun-19
Price @ Call: 2432.79
Target: 2820
BUY
Motilal Oswal
29-May-19
Price @ Call: 2420.29
Target: 2780
BUY
HDFCB has been consistently gaining market share across retail product segments. The bank’s strong capitalization and liquidity levels are likely to help it sustain this growth momentum. We expect HDFCBK to deliver 22%/22% loan book/PAT CAGR over FY19-21. Margins are likely to remain stable, while strong control on operating leverage is likely to result in steady return ratios (RoA/RoE of 1.9%/17.2% in FY21E). We maintain our Buy rating with a target price of INR2,780 (3.8x FY21E ABV).
Investec Securities
20-May-19
Price @ Call: 2361.65
Target: 2800
BUY
Dolat Capital
23-Apr-19
Price @ Call: 2266
Target: 2550
ACCUMULATE
Nirmal Bang
23-Apr-19
Price @ Call: 2266
Target: 2547
BUY
ICICIdirect.com
23-Apr-19
Price @ Call: 2266
Target: 2700
BUY
Angel Broking
23-Apr-19
Price @ Call: 2266
Target: 2500
BUY
Choice Equity Broking
23-Apr-19
Price @ Call: 2266
Target: 2560
BUY
Nalanda Securities
23-Apr-19
Price @ Call: 2266
Target: 2635
BUY
Sharekhan
23-Apr-19
Price @ Call: 2260.3
Target: 2750
BUY
Motilal Oswal
22-Apr-19
Price @ Call: 2287.31
Target: 2650
BUY
Reliance Securities
22-Apr-19
Price @ Call: 2287.31
Target: 2650
BUY
Prabhudas Lilladher
21-Apr-19
Price @ Call: 2299.53
Target: 2700
ACCUMULATE
Geojit Financial Services
6-Feb-19
Price @ Call: 2121.65
Target: 2345
BUY
Sharekhan
29-Jan-19
Price @ Call: 2083.55
Target: 2650
BUY
Angel Broking
25-Jan-19
Price @ Call: 2102.28
Target: 2500
BUY
Karvy Stock Broking
23-Jan-19
Price @ Call: 2133
Target: 2235
HOLD
ICICIdirect.com
22-Jan-19
Price @ Call: 2146.55
Target: 2400
BUY
Nirmal Bang
22-Jan-19
Price @ Call: 2146.55
Target: 2443
BUY
Prabhudas Lilladher
21-Jan-19
Price @ Call: 2129.78
Target: 2371
ACCUMULATE
Motilal Oswal
21-Jan-19
Price @ Call: 2131.2
Target: 2500
BUY
Edelweiss
21-Jan-19
Price @ Call: 2131.2
Target: 2530
BUY
HDFCBANK Share Price Target - Broker Reports - 2018
Indiabulls Ventures
27-Nov-18
Price @ Call: 2049.5
Target: 2260
BUY
Geojit Financial Services
30-Oct-18
Price @ Call: 1916.81
Target: 2112
BUY
AnandRathi
30-Oct-18
Price @ Call: 1916.81
Target: 2420
BUY
Arihant Capital Markets
26-Oct-18
Price @ Call: 1961.97
Target: 2189
BUY
KRChoksey
22-Oct-18
Price @ Call: 1965.8
Target: 2350
BUY
Nalanda Securities
22-Oct-18
Price @ Call: 1965.8
Target: 2284
BUY
Prabhudas Lilladher
21-Oct-18
Price @ Call: 1967.34
Target: 2310
BUY
Motilal Oswal
21-Oct-18
Price @ Call: 1967.34
Target: 2400
BUY
Edelweiss
11-Oct-18
Price @ Call: 1966.3
Target: 2452
BUY
Geojit Financial Services
10-Aug-18
Price @ Call: 2113.07
Target: 2388
BUY
Choice Equity Broking
30-Jul-18
Price @ Call: 2174.05
Target: 2400
BUY
Arihant Capital Markets
24-Jul-18
Price @ Call: 2157.75
Target: 2349
HOLD
KRChoksey
23-Jul-18
Price @ Call: 2190.1
Target: 2627
BUY
JM Financial
23-Jul-18
Price @ Call: 2190.1
Target: 2500
BUY
Sharekhan
23-Jul-18
Price @ Call: 2160.74
Target: 2470
BUY
Nirmal Bang
23-Jul-18
Price @ Call: 2160.74
Target: 2541
BUY
Reliance Securities
23-Jul-18
Price @ Call: 2160.74
Target: 2471
BUY
Prabhudas Lilladher
20-Jul-18
Price @ Call: 2184.85
Target: 2251
BUY
Sharekhan
6-Jul-18
Price @ Call: 2123.35
Target: 2470
BUY
Hem Securities
23-May-18
Price @ Call: 1997.82
Target: 2500
BUY
Prabhudas Lilladher
15-May-18
Price @ Call: 2021.2
Target: 2251
BUY
Motilal Oswal
10-May-18
Price @ Call: 1979
Target: 2400
BUY
Edelweiss
10-May-18
Price @ Call: 1979
Target: 2454
BUY
ICICIdirect.com
24-Apr-18
Price @ Call: 1933.05
Target: 2300
BUY
Arihant Capital Markets
24-Apr-18
Price @ Call: 1933.05
Target: 2189
ACCUMULATE
KRChoksey
24-Apr-18
Price @ Call: 1936.34
Target: 2346
BUY
JM Financial
24-Apr-18
Price @ Call: 1936.34
Target: 2500
BUY
Motilal Oswal
23-Apr-18
Price @ Call: 1960.95
Target: 2400
BUY
Prabhudas Lilladher
23-Apr-18
Price @ Call: 1960.95
Target: 2251
BUY
Edelweiss
21-Apr-18
Price @ Call: 1946.05
Target: 2454
BUY
Edelweiss
12-Mar-18
Price @ Call: 1863.47
Target: 2035
BUY
Motilal Oswal
1-Mar-18
Price @ Call: 1885.98
Target: 2400
BUY
Geojit Financial Services
8-Feb-18
Price @ Call: 1871.4
Target: 2060
BUY
ICICIdirect.com
22-Jan-18
Price @ Call: 1951.2
Target: 2300
BUY
Prabhudas Lilladher
20-Jan-18
Price @ Call: 1946.7
Target: 2136
BUY
Motilal Oswal
20-Jan-18
Price @ Call: 1946.7
Target: 2350
BUY
HDFCBANK Share Price Target - Broker Reports - 2017
Edelweiss
20-Dec-17
Price @ Call: 1888
Target: 2100
BUY
ICICIdirect.com
20-Dec-17
Price @ Call: 1887.15
Target: 2300
BUY
Prabhudas Lilladher
14-Dec-17
Price @ Call: 1822
Target: 2136
BUY
Reliance Securities
6-Nov-17
Price @ Call: 1832.65
Target: 2065
BUY
Axis Direct
31-Oct-17
Price @ Call: 1813.9
Target: 2150
BUY
Arihant Capital Markets
26-Oct-17
Price @ Call: 1794.5
Target: 1880
NEUTRAL
Dolat Capital
26-Oct-17
Price @ Call: 1794.5
Target: 2000
ACCUMULATE
Sharekhan
26-Oct-17
Price @ Call: 1794.5
Target: 2100
BUY
KRChoksey
26-Oct-17
Price @ Call: 1794.5
Target: 2045
ACCUMULATE
Edelweiss
25-Oct-17
Price @ Call: 1865.15
Target: 2100
BUY
ICICIdirect.com
25-Oct-17
Price @ Call: 1865.15
Target: 2050
BUY
Prabhudas Lilladher
25-Oct-17
Price @ Call: 1865.15
Target: 2136
BUY
Motilal Oswal
25-Oct-17
Price @ Call: 1801.66
Target: 2150
BUY
Reliance Securities
13-Oct-17
Price @ Call: 1810.2
Target: 1940
BUY
JM Financial
18-Sep-17
Price @ Call: 1849.35
Target: 2000
BUY
Sharekhan
3-Sep-17
Price @ Call: 1771.41
Target: 1950
BUY
Reliance Securities
31-Aug-17
Price @ Call: 1769.6
Target: 1940
BUY
Axis Direct
31-Jul-17
Price @ Call: 1777.71
Target: 2000
BUY
Sharekhan
27-Jul-17
Price @ Call: 1743
Target: 1950
BUY
KRChoksey
25-Jul-17
Price @ Call: 1736
Target: 2016
BUY
ICICIdirect.com
25-Jul-17
Price @ Call: 1740
Target: 1840
HOLD
Arihant Capital Markets
24-Jul-17
Price @ Call: 1735
Target: 1874
HOLD
Edelweiss
24-Jul-17
Price @ Call: 1735
Target: 1958
BUY
IIFL
5-Jul-17
Price @ Call: 1655.2
Target: 1890
BUY
Reliance Securities
21-Jun-17
Price @ Call: 1690.1
Target: 1786
BUY
Ventura
2-Jun-17
Price @ Call: 1632
Target: 2174
BUY
Geojit Financial Services
5-May-17
Price @ Call: 1535
Target: 1681
BUY
Choice Equity Broking
26-Apr-17
Price @ Call: 1547
Target: 1720
BUY
ICICIdirect.com
24-Apr-17
Price @ Call: 1535
Target: 1700
BUY
Systematix Shares & Stocks
21-Apr-17
Price @ Call: 1497
Target: 1685
BUY
Arihant Capital Markets
21-Apr-17
Price @ Call: 1496
Target: 1778
BUY
Edelweiss
21-Apr-17
Price @ Call: 1497
Target: 1734
BUY
Motilal Oswal
21-Apr-17
Price @ Call: 1497
Target: 1790
BUY
Axis Direct
31-Jan-17
Price @ Call: 1286.25
Target: 1400
BUY
Geojit Financial Services
30-Jan-17
Price @ Call: 1285
Target: 1417
BUY
Arihant Capital Markets
30-Jan-17
Price @ Call: 1293
Target: 1358
BUY
KRChoksey
25-Jan-17
Price @ Call: 1280
Target: 1457
BUY
Edelweiss
24-Jan-17
Price @ Call: 1268
Target: 1412
BUY
Religare
24-Jan-17
Price @ Call: 1267.55
Target: 1465
BUY
ICICIdirect.com
24-Jan-17
Price @ Call: 1248
Target: 1500
BUY
Motilal Oswal
24-Jan-17
Price @ Call: 1268
Target: 1510
BUY
HDFCBANK Share Price Target - Broker Reports - 2016
Geojit Financial Services
29-Dec-16
Price @ Call: 1201.45
Target: 1387
BUY
Systematix Shares & Stocks
8-Dec-16
Price @ Call: 1202.55
Target: 1555
BUY
Geojit Financial Services
17-Nov-16
Price @ Call: 1229.95
Target: 1387
BUY
Arihant Capital Markets
26-Oct-16
Price @ Call: 1250.4
Target: 1365
HOLD
ICICIdirect.com
26-Oct-16
Price @ Call: 1250.4
Target: 1500
BUY
KRChoksey
26-Oct-16
Price @ Call: 1240
Target: 1457
BUY
Axis Direct
26-Oct-16
Price @ Call: 1250
Target: 1400
BUY
ICICIdirect.com
20-Oct-16
Price @ Call: 1255
Target: 1500
BUY
Motilal Oswal
14-Oct-16
Price @ Call: 1265
Target: 1500
BUY
Motilal Oswal
9-Sep-16
Price @ Call: 1291
Target: 1450
BUY
Prabhudas Lilladher
8-Sep-16
Price @ Call: 1299
Target: 1425
BUY
Geojit Financial Services
29-Aug-16
Price @ Call: 1258
Target: 1387
BUY
Angel Broking
22-Jul-16
Price @ Call: 1227
Target: 1262
ACCUMULATE
Reliance Securities
12-Jul-16
Price @ Call: 1194.85
Target: 1248
BUY
Prabhudas Lilladher
23-Jun-16
Price @ Call: 1186
Target: 1350
BUY
Prabhudas Lilladher
20-Jun-16
Price @ Call: 1175.54
Target: 1350
BUY
Angel Broking
10-Jun-16
Price @ Call: 1165.57
Target: 1262
BUY
Enochventures.com
2-Jun-16
Price @ Call: 1175.25
Target: 1650
HOLD
KRChoksey
25-Apr-16
Price @ Call: 1094
Target: 1293
BUY
Religare
25-Apr-16
Price @ Call: 1100
Target: 1350
BUY
Axis Direct
25-Apr-16
Price @ Call: 1092
Target: 1400
BUY
Kotak Securities
25-Apr-16
Price @ Call: 1089.8
Target: 1250
BUY