Axis Bank stock at Rs 1,000? Analysts raise targets despite Q3 earnings miss
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CLSA has a target price of Rs 1,000 for the Axis Bank stock.
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NEW DELHI: Axis Bank s decline in net profit for the December quarter might have disappointed investors, but a host of brokerages have upped their targets on the stock. Analysts found comfort in the bank s reasonable cushion on identified stress assets, low restructuring and growth in retail loans. They see low cost of funding and improvement in the net interest margin (NIM) ahead.
CLSA has been among the most optimistic. It has a target of Rs 1,000 for the stock, as it noted that core pre-provision operating profit was hit by many one-offs and that the quarter saw low new stress formation.