Thursday, 16 October 2008

Buy ICICI Bank; target Rs 615: P Lilladher

Prabhudas Lilladher has recommended a buy rating on ICICI Bank with price target of Rs 615, in its report dated October 15, 2008.

"Stock performance may continue to remain volatile in the near term in-line with the global developments. However, we feel that at the CMP of Rs 414 the stock is trading at 9x FY10E EPS and 1.0x FY10E ABV and 1.2x FY10E ABV (excluding value of subsidiaries). The bank is available at extremely attractive valuations and thus we have upgraded our rating to a BUY with a revised price target of Rs 615," says Prabhudas Lilladher's research report.

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Source: Moneycontrol

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