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KOTAKBANK Share Price Target
Kotak Mahindra Bank Ltd.
NSE: KOTAKBANK | BSE: 500247 | ISIN: INE237A01028 | Sector: Banks
KOTAKBANK Rating
- ★★
- ★★
- ★★
- ★★
- ★★
4.4/5 (16 Ratings)
KOTAKBANK Share Price *
1,680.4 +2.15 (0.13%)
* (quote may be delayed)
22 KOTAKBANK share price target reports by brokerages below. See what is analyst's view on KOTAKBANK 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.
You can also find KOTAKBANK share price target tomorrow or next week from KOTAKBANK discussion forum.
KOTAKBANK Share Price Forecast - Consensus
| No. of reports in last year | 22 |
| No. of analysts | 12 |
| Average Consensus Forecast | 1663.00 |
| Consensus Potential | -1.43% |
KOTAKBANK Share Price Target - Broker Reports - 2020
Geojit Financial Services
27-Jan-20
Price @ Call: 1618.95
Target: 1730
HOLD
Slowdown in growth is a resultant of stuttering macro environment and we expect the economy to improve gradually. Growth in 811 digital banking product is expected to reap benefits in the coming years. Resultantly, we cautiously value the bank at 3.6x FY22E BVPS, with a target price of Rs. 1,730 and maintain our HOLD recommendation.
Reliance Securities
21-Jan-20
Price @ Call: 1608.81
Target: 1750
HOLD
Despite some disappointment on growth front, we continue to like KMB for its strong liability franchise (CoF amongst the lowest in industry), conservative lending approach, and strong capital position. However, trading at 4.9 times Dec-21E P/ABV, any upside in valuations may be capped given interim growth challenges and lack of clarity over promoter’s stake. Our earnings estimates are revised lower by 7%/9% for FY20E/21E led by lower growth and slightly higher slippages. We introduce FY22 estimates and roll forward our valuations to Dec-21E, maintaining our HOLD rating with a Target Price of Rs1,750 (from Rs1,720 earlier) based on 3.7x Dec-21E adjusted PBV (standalone bank) and the value of its subsidiaries, implying a Dec-21E P/ABV of 5.5x.
Nirmal Bang
21-Jan-20
Price @ Call: 1608.81
Target: 1757
ACCUMULATE
We have revised our NII estimates by -1.0%/-3.8%/-4.8%, PPOP estimates by -2.4%/-7.5%/-9.2% and PAT estimates by -1.2%/-7.8%/-9.3% for FY20/FY21/FY22, respectively. We have retained Accumulate rating on KMB with a revised target price of Rs1,757 (from Rs1,781 earlier), valuing the standalone bank at 4.0x H1FY22E P/BV and ascribing a value of Rs 429 to the subsidiaries.
HDFC Securities
21-Jan-20
Price @ Call: 1608.81
Target: 1681
NEUTRAL
KMB’s earnings were slightly below estimates as opex (led by a one-off) and provisions came in higher. GNPAs continued to rise, though not alarmingly. Maintain NEUTRAL with a TP of Rs 1,681 (4.25x Dec-21E core ABV of Rs 309 + Rs 367 for subs), as valuations are expensive.KMB’s strong fundamentals (CRAR, liability franchise, minimal reported stress) should enable the bank to deliver an improvement in already strong return ratios. We do not find the current slowdown in growth and uptick in stress worrisome. Our NEUTRAL stance reflects discomfort on rich valuations. The contentious issue of promoter holding remains unresolved, and the next hearing is slated in Mar-20.
ICICIdirect.com
21-Jan-20
Price @ Call: 1618.05
Target: 1700
HOLD
KMB has been one of the most consistent performers over the years, driven by best in class return ratios & margin profile. A cautious approach within corporate, SME & unsecured retail is seen impacting growth. However, bank credit growth is seen remaining healthy compared to the industry. Performance of subsidiaries (life insurance and AMC) remains strong on growth & profitability, value enrichment remains positive. The bank’s longterm focus continues on maintaining risk adjusted returns. However, given economic headwinds, we lower our growth estimate. We maintain HOLD rating with an unchanged target price of Rs 1700, based on SOTP valuation.
KOTAKBANK Share Price Target - Broker Reports - 2019
Nirmal Bang
4-Dec-19
Price @ Call: 1647.14
Target: 1781
ACCUMULATE
Geojit Financial Services
31-Oct-19
Price @ Call: 1587.58
Target: 1682
HOLD
Edelweiss
22-Oct-19
Price @ Call: 1612.58
Target: 1847
BUY
KMB’s strong foundation—liability franchise, capital, limited stress—to build a scalable model will yield results as competition from NBFCs/PSU banks wanes. Non-banking subsidiaries are also seeing improvement in earnings momentum. Maintain ‘BUY/SP’.
ICICIdirect.com
23-Oct-19
Price @ Call: 1619.29
Target: 1700
HOLD
KMB has maintained a consistent performance in terms of RoA at 1.7%, RoE of 12-14%. Going ahead, focus on pedalling b/s growth, maintaining risk adjusted returns will benefit return ratios. The bank is seen as one of the major beneficiaries of lower tax regime. Performance of subsidiaries (prime, life insurance, AMC business) remains strong on growth & profitability. Value enrichment remains positive with contribution at 28%. Hence, we maintain HOLD with a revised TP of Rs 1700, based on SOTP valuation. Outcome of tussle between bank and RBI continues to remain key monitorable.
Nirmal Bang
23-Oct-19
Price @ Call: 1628
Target: 1905
BUY
We have revised our NII estimates by -0.8%/-2.1%/-3.1%, PPOP estimates by - 0.8%/-2.2%/-3.1% and PAT estimates by -2.2%/-3.1%/-3.0% for FY20/FY21/FY22, respectively. We have retained Buy rating on KMB and revised our target price to Rs1,905 (from Rs1,830 earlier), valuing the stock at 4.2x H1FY22E P/BV.
Axis Direct
10-Oct-19
Price @ Call: 1585.92
Target: 1800
BUY
Reliance Securities
26-Jul-19
Price @ Call: 1485.4
Target: 1600
BUY
Outlook & Valuation: KMB has strengthened its liability profile with increased share of granular retail loans and sharp rise in CASA over the years. Moreover, its conservative lending and healthy performance across the asset quality cycles make it a preferred play amidst a not-so-benign operating environment. We expect improving liability profile and improved pricing power to aid the bank’s margin and profitability going forward. Keeping our estimates unchanged for forward years, we maintain our BUY recommendation on the stock with a SOTP-based revised Target Price of Rs1,600 (from Rs1,550 earlier) based on 4.2x FY21E adjusted PBV (4x earlier) and the value of its subsidiaries, implying a FY21 P/ABV of 5.7x.
KRChoksey
24-Jul-19
Price @ Call: 1493.7
Target: 1620
ACCUMULATE
We apply a P/B multiple of 4.8x to the FY20 book value of the parent bank and arrive at a TP of INR 1,620 per share on SoTP basis, an upside of 8.4% over CMP. Since, our last “BUY” rating, the shares of Kotak Bank has advanced 6.4%. We remain positive on the counter and recommend an “Accumulate” rating.
Edelweiss
23-Jul-19
Price @ Call: 1453.65
Target: 1632
BUY
Kotak Mahindra Bank (KMB) delivered a steady Q1FY20, reinforcing our view that its earnings momentum would sustain in spite of the challenging environment. Key highlights: a) Growth momentum softened due to lower growth in corporate/business banking (cautious stance) and below-trend vehicle finance growth (slow underlying sales). b) That said, an improving NIM profile (returns consciousness) supported 20%-plus YoY NII growth. c) The continued focus on building up the stable and low-cost franchise is evident from CASA growth of 20%-plus YoY (contrary to softening trend at peers) and suggests it is priming for growth. Given KMB’s: a) best-in-class liability franchise (CASA ratio of >50%); b) marginal stress baggage—GNPL at 2.19%; and c) strong capitalisation (tier-1: >17%), a strong foundation is in place to capture emerging opportunities. Key variables: the roadmap for reduction in promoter shareholding. Maintain ‘BUY’ with a revised SoTP of INR1,632 (rolling forward by one quarter; earlier INR1,576).
Nirmal Bang
23-Jul-19
Price @ Call: 1453.65
Target: 1676
BUY
We have revised our NII estimates by -1.6%/-4.2%, PPOP estimates by 0.8%/-2.2% and PAT estimates by 1.3%/-1.8% for FY20/FY21, respectively. We have retained Buy rating on KMB and revised our target price to Rs1,676 (from Rs1,751 earlier), valuing the stock at 4.1x FY21E P/BV.
Investec Securities
20-May-19
Price @ Call: 1460.7
Target: 1650
BUY
Reliance Securities
19-May-19
Price @ Call: 1442.97
Target: 1550
BUY
Despite a challenging environment on the liabilities front, KMB has managed to improve its CASA share with most of the growth coming from the granular sources. Given its conservative lending and healthy performance across the asset quality cycle, KMB will continue to be one of the preferred plays amidst a not-so-benign operating environment for banks. Clarity on dilution in promoters’ holding is awaited, which could be a near-term overhang for the stock. At CMP, the stock trades at 4.9x FY21E. We maintain our BUY recommendation on the stock with an SOTP-based revised Target Price of Rs1,550 (from Rs1,500 earlier) based on 4x FY21E adjusted PBV and the value of its subsidiaries, implying a FY21 P/ABV of 5.5x.
HDFC Securities
3-May-19
Price @ Call: 1423.41
Target: 1481
BUY
Consistent performance across parameters justifies our positive view on KMB. The minor slip in asset quality is excusable. Maintain BUY with an SOTP of Rs 1,481 (4.25x Mar-21E core ABV of Rs 272 + Rs 326 for subs).
Nalanda Securities
2-May-19
Price @ Call: 1404.13
Target: 1554
BUY
The Government’s increased focus on rural and affordable housing and infrastructure development, coupled with government initiatives like increase in MSP for kharif crops as well as rising concretization of houses in rural India, gives us reason to believe that the increased volumes should sustain. Although increase in fuel prices and input material costs are expected to continue, we believe that the increase in demand (owing to PMAY, metro, roads and ports projects) coupled with efficient cost management by the company will offset the cost pressure and maintain profitability. We remain positive on the stock with a arget price of INR 239 giving an upside of 9.8%. (i.e. valuing the stock at CY20E EV/Ton of $150/Ton, 11x CY20E EV/EBITDA) and ACC’s stake valued at INR 66/share
Dolat Capital
2-May-19
Price @ Call: 1404.13
Target: 1550
ACCUMULATE
The NBFC reported a strong quarter, with a NII growth of 21% YoY, lower credit costs and improved asset quality. Its opex increased due to investments in 121 new branches. This is expected to improve traction in asset growth next year. We have factored an asset growth of CAGR 18% (reduced our asset growth estimates marginally by 200 bps against vehicles), driven by 15% and 18% in vehicles and LAP, respectively. The PAT is likely to grow at a CAGR 25% over FY19-21E and the ROA is expected to improve 10 bps to 2.3% by FY21E. The concerns about a slowing CV cycle is expected to be partly mitigated by market share gains in vehicles and traction in home equity. Maintain Accumulate at 3x FY21 E P/ABV (Target of Rs 1550).
ICICIdirect.com
2-May-19
Price @ Call: 1387.05
Target: 1500
HOLD
KMB has maintained consistent performance in terms of RoA at 1.7% and RoE of 12-14%. Going ahead, focus on pedalling balance sheet growth, maintaining risk adjusted returns will benefit return ratios. Performance of non-banking businesses (prime, life insurance and AMC business) remains strong on growth & profitability while their contribution was at 30%. We maintain our HOLD rating with revised SoTP target of Rs 1500 (earlier Rs 1400) led by insurance (EV Rs 7300 crore) and AMC upgrade. Hearing of case between bank and RBI postponed to January 2020 still remains an overhang.
AUM Capital
11-Mar-19
Price @ Call: 1243.09
Target: 1440
BUY
Kotak enjoys strong growth visibility and superior asset quality management. It has witnessed significant traction in CASA and expect strong traction in earnings to continue owing to robust growth in loan book, moderate credit cost and healthy margins. At the CMP of Rs. 1237.90, the stock trades at ~28 times FY20 EPS of Rs. 45. Hence, we recommend a BUY on the stock with a Target Price of Rs. 1,440 with an upside potential of ~16% from the current level with an investment horizon of 9-12 months.
Indiabulls Ventures
13-Feb-19
Price @ Call: 1298.6
Target: 1436
BUY
Nirmal Bang
23-Jan-19
Price @ Call: 1282.11
Target: 1559
BUY
Reliance Securities
23-Jan-19
Price @ Call: 1291.6
Target: 1390
BUY
Karvy Stock Broking
23-Jan-19
Price @ Call: 1291.6
Target: 910
SELL
ICICIdirect.com
22-Jan-19
Price @ Call: 1267.3
Target: 1400
HOLD
HDFC Securities
22-Jan-19
Price @ Call: 1267.3
Target: 1400
BUY
Motilal Oswal
22-Jan-19
Price @ Call: 1267.3
Target: 1350
NEUTRAL
Edelweiss
22-Jan-19
Price @ Call: 1267.3
Target: 1446
BUY
Geojit Financial Services
18-Jan-19
Price @ Call: 1234.53
Target: 1342
HOLD
KOTAKBANK Share Price Target - Broker Reports - 2018
ICICIdirect.com
17-Dec-18
Price @ Call: 1255.25
Target: 1400
BUY
KRChoksey
25-Oct-18
Price @ Call: 1177.3
Target: 1461
BUY
ICICIdirect.com
25-Oct-18
Price @ Call: 1177.3
Target: 1400
BUY
HDFC Securities
25-Oct-18
Price @ Call: 1177.3
Target: 1377
BUY
JM Financial
25-Oct-18
Price @ Call: 1177.3
Target: 1300
BUY
Nalanda Securities
25-Oct-18
Price @ Call: 1177.3
Target: 1371
BUY
Prabhudas Lilladher
24-Oct-18
Price @ Call: 1177.75
Target: 1291
HOLD
Dolat Capital
24-Oct-18
Price @ Call: 1177.75
Target: 1325
ACCUMULATE
KRChoksey
30-Aug-18
Price @ Call: 1287.55
Target: 1544
BUY
ICICIdirect.com
3-Aug-18
Price @ Call: 1281
Target: 1490
BUY
Edelweiss
3-Aug-18
Price @ Call: 1281
Target: 1421
BUY
Reliance Securities
20-Jul-18
Price @ Call: 1342.38
Target: 1497
BUY
KRChoksey
23-Jul-18
Price @ Call: 1333.45
Target: 1526
BUY
ICICIdirect.com
23-Jul-18
Price @ Call: 1333.45
Target: 1490
BUY
HDFC Securities
20-Jul-18
Price @ Call: 1350.25
Target: 1378
BUY
IIFL
20-Jul-18
Price @ Call: 1350.25
Target: 1516
BUY
Edelweiss
20-Jul-18
Price @ Call: 1350.25
Target: 1421
BUY
Motilal Oswal
20-Jul-18
Price @ Call: 1350.25
Target: 1400
NEUTRAL
Prabhudas Lilladher
19-Jul-18
Price @ Call: 1368.69
Target: 1398
HOLD
Phillip Capital
19-Jun-18
Price @ Call: 1314.05
Target: 1545
BUY
ICICIdirect.com
2-May-18
Price @ Call: 1263.25
Target: 1440
BUY
KRChoksey
2-May-18
Price @ Call: 1263.25
Target: 1402
BUY
Edelweiss
2-May-18
Price @ Call: 1210.35
Target: 1366
BUY
Motilal Oswal
30-Apr-18
Price @ Call: 1206.11
Target: 1400
BUY
Edelweiss
22-Jan-18
Price @ Call: 1059.95
Target: 1240
BUY
Prabhudas Lilladher
20-Jan-18
Price @ Call: 1053.89
Target: 1165
ACCUMULATE
Motilal Oswal
20-Jan-18
Price @ Call: 1053.89
Target: 1220
BUY
KOTAKBANK Share Price Target - Broker Reports - 2017
Edelweiss
26-Dec-17
Price @ Call: 1009.95
Target: 1205
BUY
KRChoksey
30-Oct-17
Price @ Call: 1034.25
Target: 1104
ACCUMULATE
JM Financial
30-Oct-17
Price @ Call: 1034.25
Target: 1075
BUY
Motilal Oswal
26-Oct-17
Price @ Call: 1009.7
Target: 1179
BUY
Edelweiss
25-Oct-17
Price @ Call: 1020.92
Target: 1056
HOLD
Motilal Oswal
20-Jul-17
Price @ Call: 980
Target: 1153
BUY
JM Financial
24-Jul-17
Price @ Call: 993.9
Target: 1075
BUY
HDFC Securities
21-Jul-17
Price @ Call: 979
Target: 1109
BUY
Edelweiss
20-Jul-17
Price @ Call: 980
Target: 1001
HOLD
KRChoksey
21-Jul-17
Price @ Call: 980
Target: 1104
BUY
Axis Direct
6-May-17
Price @ Call: 915
Target: 965
HOLD
ICICIdirect.com
28-Apr-17
Price @ Call: 902
Target: 950
HOLD
Motilal Oswal
28-Apr-17
Price @ Call: 915
Target: 1050
BUY
HDFC Securities
28-Apr-17
Price @ Call: 915
Target: 1013
BUY
Motilal Oswal
30-Mar-17
Price @ Call: 865
Target: 1015
BUY
Motilal Oswal
25-Jan-17
Price @ Call: 795
Target: 940
BUY
HDFC Securities
27-Jan-17
Price @ Call: 793
Target: 936
BUY
KRChoksey
27-Jan-17
Price @ Call: 795
Target: 953
BUY
KOTAKBANK Share Price Target - Broker Reports - 2016
Religare
12-May-16
Price @ Call: 731.15
Target: 900
BUY
Prabhudas Lilladher
8-Dec-16
Price @ Call: 749.45
Target: 860
BUY
Axis Direct
26-Oct-16
Price @ Call: 785
Target: 810
HOLD
KRChoksey
26-Oct-16
Price @ Call: 820
Target: 953
BUY
ICICIdirect.com
26-Aug-16
Price @ Call: 780
Target: 840
BUY
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KOTAKBANK Peer Stocks - Share Price Targets
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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