ICICI Bank Limited – Consensus Indicates Potential 42.8% Upside

Broker Ratings

ICICI Bank Limited with ticker code (IBN) now have 3 analysts covering the stock with the consensus suggesting a rating of ‘Strong_Buy’. The target price ranges between 23.3 and 21 with the average target price sitting at 22.1. With the stocks previous close at 15.48 this would imply there is a potential upside of 42.8%. The day 50 moving average is 16.66 and the 200 moving average now moves to 14.16. The market capitalisation for the company is $54,364m. You can visit the company’s website by visiting: http://www.icicibank.com

ICICI Bank Limited provides various banking products and financial services in India and internationally. It operates in Retail Banking, Wholesale Banking, Treasury, and Others Banking segments. The company offers savings, salary, pension, current, and other accounts; and fixed, recurring, and security deposits. It also provides home, car, two wheeler, personal, gold, and commercial business loans, as well as loans against securities and other loans; business loans, such as working capital finance, term loans, collateral free loans, loans without financials, finance for importers and exporters, and secured loans for credit card swipes, as well as loans for new entities, and schools and colleges; and credit, debit, prepaid, travel, and corporate cards. In addition, the company offers insurance products; pockets wallet; fixed income products; investment products, such as mutual funds, gold monetization schemes, and initial public offerings, as well as other online investment services; and farmer finance, tractor loans, and micro banking services, as well as other services to agri traders and processors, and agri corporates. Further, it provides portfolio management, trade, foreign exchange, locker, private and NRI banking, and cash management services; family wealth and demat accounts; commercial and investment banking, capital market, custodial, project and technology finance, and institutional banking services, as well as Internet, mobile, and phone banking services. Additionally, the company offers securities investment, broking, trading, and underwriting services; and merchant banking, trusteeship, housing finance, and pension fund management services. As of March 31, 2020, it had a network of 5,324 branches, 15,688 ATMs, 1,638 insta-banking kiosks, 483,538 POS terminals, and 1,791 cash acceptance machines. ICICI Bank Limited was founded in 1955 and is headquartered in Mumbai, India.

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