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HindustanTimes Tue,25 Nov 2014

Banking

Morgan Stanley upgrades ICICI Bank to 'overweight'
Reuters
Mumbai, April 09, 2013
First Published: 10:41 IST(9/4/2013)
Last Updated: 13:37 IST(9/4/2013)

Morgan Stanley upgraded ICICI Bank to "overweight" from "equal-weight" and has raised its target price to 1,250 from 1,235 rupees, as it expects a pickup in consumer loan growth to drive performance.

Morgan Stanley also cites valuations as well as ICICI's efforts to "repair" its balance sheet and improve profitability.

ICICI Bank shares gain 1.7% to 1005.60 rupees.


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