Brokerages upbeat on Axis Bank shares; Jefferies sees Rs 230 per share gains

Axis Bank stock can earn investors up to Rs 231 per share as per the estimates given by Jefferies. The brokerage maintains a Buy on this stock for a target of Rs 1110, highest among its broking peers UBS, JP Morgan, Nomura and others.

Jefferies’ target is a 27 per cent upside from the recommended level of Rs 879.

UBS has estimated a price target of Rs 1030 while maintaining a buy in this counter. The brokerage underlined management’s confidence in sustaining its reported metrics while expecting margins to sustain at current levels.   

JP Morgan is ‘Overweight’ on Axis Bank and has put a target of Rs 990 banking on this private lender’s franchise strength which it said is much better than at any point over last decade.

Also Read: Stock Market Today LIVE: Sensex, Nifty50 trade in red as HDFC twins, Kotak drag frontline indices

However, JP Morgan has flagged a few headwinds like slower pace of retail deposit accretion.

Nomura has a ‘Buy’ target at Rs 1020 while HSBC’s target is Rs 1075.

Macquarie has a neutral call on it with a target of Rs 790.

Also Read: HDFC Bank vs ICICI Bank vs Axis Bank vs Indusind Bank: Which stock offers more value for your buck?

Indian markets were trading lackluster on Friday which also marked the beginning of December series. NSE Nifty50 was trading at 18485.90 flat from the previous closing while S&P BSE Sensex was trading at 62,254.13, down by 18.55 points or 0.03 per cent.

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)