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LICHSGFIN Share Price Target
LIC Housing Finance Ltd.
Sector: Finance
Sector: Finance
LICHSGFIN Share Price *
438.35 +4 (0.92%)
* (quote may be delayed)
LICHSGFIN Share Price Forecast - Consensus
| No. of reports in last year | 14 |
| No. of analysts | 8 |
| Average Consensus Forecast | 523.86 |
| Consensus Potential | 15.88% |
LICHSGFIN Share Price Target - Broker Reports - 2019
Geojit Financial Services
12-Nov-19
Price @ Call: 441.01
Target: 495
ACCUMULATE
Sharekhan
24-Oct-19
Price @ Call: 371.31
Target: 400
HOLD
LICHF currently trades at 1.3x valuations which seem to be reasonable considering the fact that LICHF its strong distribution network and comfortable liquidity situation. However, soft scenario in the builder loan segment and deterioration in the asset quality warrants caution. Performance pertaining to recoveries in retail and developer book, loan growth momentum in next few quarters would be key to watch. We thus maintain Hold rating on the stock with PT of Rs400.
Prabhudas Lilladher
23-Oct-19
Price @ Call: 373.1
Target: 409
ACCUMULATE
With competition intensifying and asset re-pricing behind, we foreseepressures on both core growth and margins alike. While LICHF’s ability toraise funds remain strong, negative ALM mismatch on shorter buckets, higher gearing, coupled with increasing share of non-core book would only imply higher capital requirement ahead. Therefore, we built-in NIM pressures (2.2-2.3%), higher credit costs (avg 41bps) and overall loans restricting to ~16% growth over FY20-22E. While this will impede return profile, RoEs will be confined to 16% over next 3 years. Against this backdrop and as we rollover multiple to Sep’21 estimates, we arrive at price target of Rs 409 (earlier Rs417) valuing the stock at 1.1x PABV. Reiterate ACCUMUALTE.
Nirmal Bang
22-Oct-19
Price @ Call: 377.74
Target: 518
BUY
We have retained our NII and PPOP estimates and revised our PAT estimates by -7.7%/-6.3%/-5.1% for FY20/FY21/FY22, respectively. We have retained Buy rating on LICHF, valuing the stock at 1.1x H1FY22E P/BV and revising our target price to Rs518 (from Rs528 earlier).
Cholamandalam Securities
8-Aug-19
Price @ Call: 486.44
Target: 556
BUY
LICHF is expected to post a reasonably strong loan book growth (CAGR of 8% over FY19-21E) despite a high base owing to its well established branch network. Also, with 93% of the book at floating rates the company's NIMs are expected to remain in the range of 2.3 to 2.5% thereby painting a positive outlook for the company. The stock is currently trading at P/ABV of 1.5X, P/E of 8.3X FY21E. We rate the stock a BUY and arrive at a target price of INR 556 assigning a P/ABV of 1.7X on FY21E.Risks: Yield correction due to competition; asset quality risks due to increase of share in LAP & developer segment (which could also eat out larger chunk of capital- RWA).
Prabhudas Lilladher
6-Aug-19
Price @ Call: 494.94
Target: 550
ACCUMULATE
Consolidation in smaller HFCs, steady floating rate loans and consistent non- individual loan traction (project loans grew 60%+ YoY) augmented businessmomentum for company. However, going ahead, banks’ competitive rates, continued developer book concerns should restrict NIMs to 2.3-2.4% and keep asset quality in check (1.6%-1.75%) over FY20-21E. These should pressurize RoAs, expect 1.2% over FY20-21E. Against this backdrop, we trim our multiple to 1.6x at Mar’21 PBV (earlier 1.7x) arriving at price target of Rs 550, maintain ACCUMULATE.
Motilal Oswal
5-Aug-19
Price @ Call: 494.94
Target: 580
BUY
Asset quality pressures in wholesale book; cut estimates by 4-5%
While the company’s operating performance has been steady, the continued increase in the GNPL ratio is concerning. Individual GNPL ratio has increased from 40bp to 125bp over the past two years. Corporate GNPL ratio, too, has been elevated at 10%+. Hence, we cut our FY20/21 EPS estimates by 4-5% to account for elevated credit costs. Buy with a target price of INR580 (1.4x FY21E BVPS).
While the company’s operating performance has been steady, the continued increase in the GNPL ratio is concerning. Individual GNPL ratio has increased from 40bp to 125bp over the past two years. Corporate GNPL ratio, too, has been elevated at 10%+. Hence, we cut our FY20/21 EPS estimates by 4-5% to account for elevated credit costs. Buy with a target price of INR580 (1.4x FY21E BVPS).
ICICIdirect.com
7-May-19
Price @ Call: 478.23
Target: 540
HOLD
Valuation & Outlook: LICHF’s developer and LAP portfolio has been witnessing traction and core individual book has been witnessing a moderation in growth. Long awaited margin uptick is seen but with a pinch of salt as developer portfolio rises. Given the liquidity pressure faced by other HFCs, LICHF is poised to gain market share. The recent hike in lending rates and gradual up-tick in market share are expected to provide a cushion to margins in spite of cost of funds rising. Accordingly, we expect PAT CAGR of 13.5% in FY19-21E to | 3129 crore. We revise our target price higher to | 540 (earlier | 475) valuing the stock at 1.4x FY21E ABV. We maintain HOLD recommendation.
Prabhudas Lilladher
6-May-19
Price @ Call: 485.1
Target: 597
ACCUMULATE
While consolidation in smaller HFCs, increased floating rate loans and consistent non-individual loan traction augmented business momentum for company in Q4, banks’ competitive rates, continued developer book concerns should restrict NIMs (2.4-2.45% FY20-21E) and keep asset quality in check (1.5% FY21E) and therefore there exists limited levers to RoA (expect 1.2% over FY21E). With downside risk to return ratios, reiterate Accumulate for a price target of Rs 597 (unchanged) as we value the company at 1.7x at Mar’21 PBV
Motilal Oswal
15-Mar-19
Price @ Call: 511.95
Target: 600
BUY
Over the past two years, the valuation of LICHF has corrected from 2.5x PB (1-year forward) to 1.4x currently. We believe the street is factoring in sustained spread compression over the medium-to-long term. With its strong parentage and AAA- credit rating since 2002, LICHF is better placed than peers. In addition, there are initial signs of softening balance transfer pressure. Key risks to our earnings stem from asset quality pressure and negative surprises from Ind-AS accounting (despite it being three quarters, some numbers are still volatile). Valuation at 1.4x FY20E P/B is attractive and risk-reward is favorable, in our view. We expect re-rating driven by stable earnings growth over the next 4-8 quarters. Maintain BUY with a TP of INR600 (1.5x Dec 2020E BVPS).
Prabhudas Lilladher
4-Feb-19
Price @ Call: 459.8
Target: 537
ACCUMULATE
HDFC Securities
2-Feb-19
Price @ Call: 464.93
Target: 527
BUY
Motilal Oswal
1-Feb-19
Price @ Call: 449.5
Target: 550
BUY
ICICIdirect.com
1-Feb-19
Price @ Call: 464.93
Target: 475
HOLD
LICHSGFIN Share Price Target - Broker Reports - 2018
Motilal Oswal
27-Nov-18
Price @ Call: 457
Target: 550
BUY
ICICIdirect.com
31-Oct-18
Price @ Call: 403.22
Target: 450
HOLD
HDFC Securities
31-Oct-18
Price @ Call: 403.22
Target: 515
BUY
Prabhudas Lilladher
30-Oct-18
Price @ Call: 417.1
Target: 537
ACCUMULATE
Motilal Oswal
12-Oct-18
Price @ Call: 429.06
Target: 550
BUY
Geojit Financial Services
31-Aug-18
Price @ Call: 524.09
Target: 545
HOLD
HDFC Securities
29-Aug-18
Price @ Call: 523.6
Target: 627
BUY
ICICIdirect.com
29-Aug-18
Price @ Call: 523.6
Target: 560
HOLD
Cholamandalam Securities
29-Aug-18
Price @ Call: 523.6
Target: 640
BUY
Edelweiss
27-Aug-18
Price @ Call: 571.5
Target: 787
BUY
Motilal Oswal
27-Aug-18
Price @ Call: 571.5
Target: 600
NEUTRAL
Prabhudas Lilladher
27-Aug-18
Price @ Call: 571.5
Target: 637
ACCUMULATE
Sharekhan
27-Aug-18
Price @ Call: 571.5
Target: 600
HOLD
Edelweiss
3-Jul-18
Price @ Call: 468.5
Target: 514
BUY
Motilal Oswal
26-Apr-18
Price @ Call: 547.45
Target: 610
NEUTRAL
Cholamandalam Securities
26-Apr-18
Price @ Call: 547.16
Target: 640
BUY
HDFC Securities
26-Apr-18
Price @ Call: 550.01
Target: 636
BUY
Prabhudas Lilladher
24-Apr-18
Price @ Call: 550.2
Target: 649
ACCUMULATE
ICICIdirect.com
24-Apr-18
Price @ Call: 544.55
Target: 600
HOLD
HDFC Securities
31-Jan-18
Price @ Call: 538.55
Target: 655
BUY
Prabhudas Lilladher
26-Jan-18
Price @ Call: 563.5
Target: 667
ACCUMULATE
Motilal Oswal
25-Jan-18
Price @ Call: 563.5
Target: 608
NEUTRAL
LICHSGFIN Share Price Target - Broker Reports - 2017
Indiabulls Ventures
23-Nov-17
Price @ Call: 598.35
Target: 682
BUY
Axis Direct
7-Nov-17
Price @ Call: 606
Target: 740
BUY
Motilal Oswal
1-Nov-17
Price @ Call: 599.45
Target: 680
NEUTRAL
Edelweiss
1-Nov-17
Price @ Call: 599.05
Target: 774
BUY
Sharekhan
3-Sep-17
Price @ Call: 680.8
Target: 825
BUY
HDFC Securities
1-Aug-17
Price @ Call: 692
Target: 706
NEUTRAL
Sharekhan
3-Jul-17
Price @ Call: 745
Target: 855
BUY
Sharekhan
23-Jun-17
Price @ Call: 769.7
Target: 855
BUY
CD Equisearch
9-Jun-17
Price @ Call: 743
Target: 882
ACCUMULATE
Axis Direct
4-May-17
Price @ Call: 713.08
Target: 790
BUY
HDFC Securities
27-Apr-17
Price @ Call: 676
Target: 600
SELL
Motilal Oswal
26-Apr-17
Price @ Call: 676
Target: 723
NEUTRAL
ICICIdirect.com
26-Apr-17
Price @ Call: 670
Target: 750
BUY
Edelweiss
25-Apr-17
Price @ Call: 674
Target: 784
BUY
Axis Direct
24-Jan-17
Price @ Call: 526.31
Target: 670
BUY
ICICIdirect.com
17-Jan-17
Price @ Call: 541
Target: 590
HOLD
Angel Broking
17-Jan-17
Price @ Call: 532
Target: 630
BUY
Edelweiss
17-Jan-17
Price @ Call: 532
Target: 665
BUY
Prabhudas Lilladher
17-Jan-17
Price @ Call: 532
Target: 645
BUY
LICHSGFIN Share Price Target - Broker Reports - 2016
CD Equisearch
8-Dec-16
Price @ Call: 553
Target: 671
BUY
Moneylicious
22-Nov-16
Price @ Call: 516
Target: 575
BUY
Angel Broking
4-Nov-16
Price @ Call: 533
Target: 630
BUY
ICICIdirect.com
24-Oct-16
Price @ Call: 599.65
Target: 625
HOLD
Axis Direct
24-Oct-16
Price @ Call: 605.94
Target: 735
BUY
Prabhudas Lilladher
21-Oct-16
Price @ Call: 600
Target: 630
ACCUMULATE
Edelweiss
20-Oct-16
Price @ Call: 609
Target: 665
BUY
Motilal Oswal
7-Oct-16
Price @ Call: 602
Target: 758
BUY
Prabhudas Lilladher
20-Jul-16
Price @ Call: 506.7
Target: 535
ACCUMULATE
Edelweiss
18-Jul-16
Price @ Call: 526.35
Target: 603
BUY
ICICIdirect.com
18-Jul-16
Price @ Call: 520
Target: 550
HOLD
Edelweiss
21-Jun-16
Price @ Call: 485
Target: 550
BUY
Motilal Oswal
7-Jun-16
Price @ Call: 475
Target: 581
BUY
Axis Direct
21-Apr-16
Price @ Call: 485
Target: 600
BUY