HDFC Bank - Robust core earnings, well capitalized; Accumulate

Discussion in 'Latest Brokerage Stock Buy-Sell Reports' started by Meenakshi Razdan, Apr 2, 2015.

  1. Meenakshi Razdan

    Meenakshi Razdan Administrator Staff Member Moderator

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    Robust core earnings, well capitalized; Accumulate

    We like HDFC Bank as its likely robust credit growth, improving productivity and robust
    asset quality could drive a 23.3% earnings CAGR over FY15-17, with RoA of 2% over
    the same period – the highest in our banks coverage universe. Hence, we maintain our
    Accumulate rating on the stock, with a target of Rs1,250.

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