Mumbai: State Bank of India shares fell 2.2% on Monday, underperforming a largely flat market, even after the country's largest lender's June-quarter earnings came in above analyst expectations.Read more: Indian equities could hit new highs next year: Aditya Birla MFThe stock closed at ₹1,072 even as most brokerages retained their positive stance on the lender following the results. Several firms, including Citi, HSBC, CLSA and JP Morgan, raised their target prices, while maintaining bullish recommendations.Agenciesconsensus price implies 17% upside, but stock fallsThe consensus 12-month target price stands at ₹1,255.14, implying an upside of about 17.1% from Monday's closing price of ₹1,072.
Brokerages raise SBI target price after Q1 earnings beat
State Bank of India shares faced a 2.2 percent decline on Monday, despite surpassing analysts' expectations for their June-quarter earnings. Most brokerages expressed continued optimism for the lender, with several firms increasing their target prices while maintaining a positive outlook. The consensus 12-month target price indicates a considerable potential upside from Monday's closing figures.
TL;DRAI
SBI earnings beat sparked target price raises to ₹1,255 (17% upside) from major brokerages despite 2.2% stock decline. Fundamental strength vs. market weakness divergence signals opportunity; critical for capital allocation decisions in uncertain macro environment.
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