Kotak Mahindra Bank stock outlook bullish: HSBC upgrades rating on loan growth, CEO clarity; check target price
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- ✓HSBC upgraded Kotak Mahindra Bank to ‘Buy’ with a target price of Rs 520 per share.
- ✓The bank got a boost after reporting strong second-quarter loan growth of 24.7 percent.
- ✓Analysts said the lender showed better leadership clarity, which helped shares jump 3.82 percent on Tuesday to Rs 431.90.
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The outlook for Kotak Mahindra Bank stock has turned increasingly bullish, with HSBC upgrading the lender to ‘Buy’ and raising its target price to Rs 520 per share, implying more than 20 percent upside from Tuesday’s close. The brokerage has turned constructive on the bank following greater clarity over its leadership, stronger loan and earnings growth prospects, and potential upside to earnings from repo rate hikes.
HSBC raised its earnings per share (EPS) estimates for FY27-FY29 by 1-14 percent, factoring in stronger loan growth and steady net interest margins (NIMs). The brokerage also sees potential repo rate hikes as an upside risk to the bank’s earnings.
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