Jefferies has initiated coverage on the stock with a "Buy" rating and a target price of ₹100, implying an upside of over 17% from the current levels. They expect the bank to deliver a 28% earnings per share CAGR over FY2024-27, driven by asset growth, margin expansion, and improvement in cost-to-income ratio.
Other analysts, such as BOB Capital Markets, have also assigned a "Buy" rating on the stock, with a target price of ₹96, citing expectations of improved return on assets (ROA) and return on equity (ROE) in the coming years.