Emkay Global reduces target price of HDFC Bank; here's why
Updated: 24 May 2022, 11:49 AM IST
TL;DR.
- Even though the brokerage firm has maintained the buy call on the stock due to comfortable valuations, it has cut the target price to ₹1,800 from ₹1,950 and said that the regulatory drag will hurt the near-term return on equity (RoE).
Emkay said HDFC Bank has allayed concerns on growth on the large balance sheet post-merger.