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HindustanTimes Tue,29 Jul 2014

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.

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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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